A 6 billion dollar fundraising is the new challenge by Boyu Capital on Ant Group, the technological giant of Jack Ma, founder of Alibaba. Boyu Capital, writes Reuters, intends to launch a new Fund, focused on China, and intends to rake in precisely 6 billion to test the appetite of investors after the stop to'Ipo that Jack Ma should have launched at the end of 2020. The veto arrived by the Chinese authorities, surrounded by an aura of mystery also over the personal fate of the entrepreneur who disappeared from the scene and then reappeared, prevented the IPO on the Hong Kong and Shanghai markets of Ant Group, the fintech giant Chinese.
According to the reconstruction by Reuters, the fundraising of Boyu Capital - notoriously associated with technology startups - would be a high-profile test on investor appetites at a time when some clouds are gathering over Chinese hi-tech giants. The company expects to close subscriptions within a month.
Reuters recalls the suspension decided in November 2020 on the listing of Ant, on which Boyu had bet many of his earnings expectations. In fact, the fintech giant had generated such a colossal expectation that the value of the IPO was valued at 37 billion dollars, corresponding to a group valuation of 315 billion dollars.
According to the Chinese central bank, the operation was blocked to safeguard consumers and investors from the growing market power of Chinese tech giants. Ant has since agreed a restructuring plan with the regulator.
