The sovereign wealth fund of Singapore, GIC, has moved forward with dealmaking in the U.S., looking to grow beyond China. The fund has invested in venture capital funds and technology companies. GIC's assets are estimated by analysts to be worth more than $700B, and it has told executives this year that it is looking to increase its exposure to U.S.-focused funds. - This speaks well to the resilience of the U.S.'s top technology companies, as last year saw mass sell-offs.
- AI companies in the U.S. are seen as a smart bet for some wealth funds to invest in.
- Global investors are rethinking their investing strategies in China over concerns about geopolitical tensions with the U.S.
- According to data by Refinitiv, GIC struck 63 deals with U.S.-based private companies in 2022 and 2021, up 24 from 2020 and 2019.
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