JP Morgan extends Rocket spending

Sep 14, 2012 • Joanne Faulkner

US financial firm JP Morgan has continued backing Germany-based incubator Rocket Internet’s portfolio, with its latest investment, a stake in Lazada, the Southeast Asian equivalent of Amazon.

VentureVillage reports (from a source at Rocket Internet) that the investment is a double-digit million sum. This would bring JP Morgan’s total reported recent investment in Rocket to between $125m and $165m.

JP Morgan’s investments include: a $20m investment in Australian and New Zealand online fashion retailer Iconic in a cash-for-equity swap, an…

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