The Alibaba affiliate is raising funding from a range of institutional investors at a $150bn+ valuation, the largest ever by a private VC-backed company.
Ant Financial, the financial services affiliate of China-based e-commerce group Alibaba, is raising $10bn at a valuation of more than $150bn, the Financial Times reported yesterday, citing people involved in the transaction.
Although none of the participants in the round have been confirmed, the sources said it would likely include Carlyle Group, General Atlantic, Silver Lake Partners, Sequoia Capital China, Warburg Pincus, Temasek, Canadian Pension Plan Investment Board and BlackRock.
The round will consist of convertible note financing that will…
