Sinai Capital Partners Raises L.A.’s Biggest-Ever Fund, $600 Million For Media, Tech Investments

 Sinai Capital Partners said it has raised $600 million for two funds to finance impactful and social-change-oriented investments in tech, film and TV.

The Partners’ venture capital fund Sinai Ventures raised $500 million, which the company said was the largest single fund in Los Angeles history, to invest in late-stage software and tech companies.

“Much like the entrepreneurs we back, Sinai believes the adoption of technology presents a global opportunity to change lives for the better,” said Sinai Ventures Managing Partner Jordan Fudge. “To that end, we are mission-driven to discover teams building impactful companies across the world.”

The fund has investments in 85 companies, including such notables as Pinterest, Roman Health, and Hippo Insurance. With its newest raise, Sinai Ventures will focus on investing in growth-stage and pre-IPO companies.

 “We have long been dedicated to the thesis

Read More

Analysis: Fin or tech? China’s Ant, biggest-ever IPO, says it’s a tech firm not a bank

By Yingzhi Yang, Cheng Leng and Julie Zhu

BEIJING/HONG KONG (Reuters) – China’s Ant Group <688688.SS><6688.HK>, about to make the biggest public sale of shares ever, poses a basic conundrum: what kind of company is it – a financial colossus or a tech giant?

That is important for investors before and after the initial public offering of $34.4 billion, surpassing Saudi Aramco’s record $29.4 billion float last year. Shares are expected to start trading on Thursday in Shanghai and Hong Kong.

A spinoff from billionaire Jack Ma’s Alibaba Group <9988.HK>, Ant presents itself as a technology company, while financial regulators suggest the firm remains under their purview.

The Hangzhou-based giant benefits from the far richer valuations the market affords to tech firms than to financial institutions. It hopes to escape the closer scrutiny of financial regulators, analysts say.

China’s central bank and financial regulators met on Monday with Ma and

Read More

Fin or tech? China’s Ant, biggest-ever IPO, says it’s a tech firm not a bank

By Yingzhi Yang, Cheng Leng and Julie Zhu

BEIJING/HONG KONG (Reuters) – China’s Ant Group, about to make the biggest public sale of shares ever, poses a basic conundrum: what kind of company is it – a financial colossus or a tech giant?

That is important for investors before and after the initial public offering of $34.4 billion, surpassing Saudi Aramco’s record $29.4 billion float last year. Shares are expected to start trading on Thursday in Shanghai and Hong Kong.

A spinoff from billionaire Jack Ma’s Alibaba Group, Ant presents itself as a technology company, while financial regulators suggest the firm remains under their purview.

The Hangzhou-based giant benefits from the far richer valuations the market affords to tech firms than to financial institutions. It hopes to escape the closer scrutiny of financial regulators, analysts say.

China’s central bank and financial regulators met on Monday with Ma and top Ant

Read More

Biggest-ever Arctic science mission ends after a year drifting along with frozen sea ice



a group of people standing on top of a snow covered mountain: Biggest-ever Arctic science mission ends after a year drifting along with frozen sea ice


© Provided by Firstpost
Biggest-ever Arctic science mission ends after a year drifting along with frozen sea ice

After a year spent drifting across the top of the world, frozen in sea ice, a German research ship returned home Monday, ending the largest Arctic science expedition in history, one aimed at better understanding a region that is rapidly changing as the world warms.

The ship, the Polarstern, docked at its home port of Bremerhaven nearly 13 months after it left Norway. In October, it became deliberately frozen into the ice north of Siberia, about 350 miles from the North Pole, and drifted north and west for thousands of miles, leaving the little remaining ice for good late last month between Greenland and Norway.

The expedition, with a rotating contingent of about 100 scientists, technicians and crew, encountered nosy polar bears, fierce storms that damaged equipment, changing ice conditions and, most

Read More