Expect 'unicorn' valuations to be lowered: Ratan Tata
Singapore
EXPECT some "unicorn" valuations to be adjusted downward soon.
Mr Ratan Tata, chairman emeritus of India's Tata Sons and a fervent angel investor, referring to global private companies valued at US$1 billion or more, said it was not that their valuations are excessive, but that in some cases, well-funded investors who bought into them had just wanted a piece of the action.
About a dozen of the at least 150 "unicorns" have been in business for three years or less.
Mr Tata, who is also special advisor to Singapore-based venture-capital firm Jungle Ventures, made this point twice on Tuesday - when he spoke to 30 founders of Jungle Ventures' portfolio companies and also at a lunch forum attended by some 100 industry leaders and moderated by DBS chi…
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