Singapore's sovereign wealth fund GIC intends to increase its commitments to U.S.-focused funds this year, per the Financial Times. GIC has made the move in a bid to shift away its investment focus from China due to the nation's rising tension with the U.S. Despite the VC funding slump and the dropping valuations of U.S. startups, GIC is confident about the U.S. tech investments buoyed by the recent boom in the AI sector in the nation. GIC is one of Asia's largest sovereign wealth funds, with over $700B in assets under management (AUM), per analysts' estimates.
|