Deals
Alibaba Success Spurs Billionaire Modi’s CIO to Pre-IPO Fund
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Billionaire B.K. Modi’s chief investment officer is starting a fund to help wealthy Asian families get allotments before companies go public in the U.S. after placing Alibaba Group Holding Ltd. with investors.
The fund has raised $10 million in commitments and targets $50 million by January from Asian family offices seeking stakes as small as $5 million before initial public offerings, which banks may not be able to provide, Ozi Amanat, who manages the existing portfolio of businesses for Modi’s Singapore-based Smart Global Holdings Pte, said in an interview yesterday.