Abu Dhabi-based G42 has invested more than $100M in TikTok's parent company ByteDance.
The investment was made at a $220B valuation.
- G42 is an investment company led by the United Arab Emirates royal family.
- ByteDance had $58B in revenue in 2021.
- Another fund bought into ByteDance at a $225B valuation shortly after G42 invested.
- ByteDance was valued as high as $400B in 2021, an almost 50% drop in valuation in just two years.
- The company's valuation may drop further as the recent collapse of Silicon Valley Bank is expected to affect startups beyond the U.S. tech ecosystem.
