Indian business tycoon and former chairman of Tata Sons, Ratan Tata is going to make a whopping $150 million in the mega financing round of Ant Financial Services, the world’s most highly valued private technology company and an affiliate of Chinese ecommerce giant Alibaba.
According to reports, Ratan Tata-founded company RNT Capital Advisors is all set to pump in the cash. “The round was heavily oversubscribed and Tata is the only Indian investor,” said sources related to the deal. At the $150-billion valuation, UC-RNT Fund will get about a 0.1% stake in Ant Financial.
The other investors in this funding round include Singapore’s state investor Temasek Holdings, US private equity giants Warburg Pincus and Carlyle, and Canadian pension firm CPPIB. The move from Ratan Tata is part of his strategy to invest in highly promising overseas startups.
With this round of funding, the valuation of Ant Financial Services will surge to $60 billion. The company is planning to go for public offering by next year.