Have you ever dreamed about throwing a few bucks into your college room-mate's infant tech venture and seeing it succeed big time? More often than not, dreams just don't come true for tech investors but in recent years, a few of them have managed to bag massive financial rewards. Snap's IPO was no exception with Lightspeed Venture Partners putting $485,000 seed money into the fledgling company. After adding a further investment of $7.5 million, their stock is now worth around $2.1 billion (initial IPO price) after Snap Inc. traded up 44 percent and closed at $24.48 on Thursday. Benchmark's $24 million investment in Snap has also experienced an impressive return of about $3.2 billion.
As part of the trade battle, President Donald Trump had initially ordered the Treasury Department to draft investment restrictions aimed specifically at China. But in June, Trump decided to back Congress' effort to tighten existing investment restrictions by increasing the powers of the existing Committee on Foreign Investment in the United States, or CFIUS.
The industry ministry has urged government-backed Japan Investment Corp. to seek its approval for each of its investments, according to informed sources. But JIC claims such an approval system would make it difficult to make quick investment decisions, according to the sources. Concerns are also emerging that the public-private investment body may be used for unnecessary corporate bailouts, they said. The ministry's move has come to light just as its relations with JIC are deteriorating over executive pay at the investment body. The ministry made the demand last month, along with a request to lower compensation for JIC executives including President and Chief Executive Officer Masaaki Tanaka amid criticism that they are paid too much.
Harvard Management Company, which oversees Harvard University's approximately $35 billion endowment, is shifting its investment strategy under its new chief executive officer, N.P. "Narv" Narvekar. As first reported by The Wall Street Journal, Harvard - which has the world's largest university endowment - will restructure it strategy and outsource most of its investments to external investment managers. Harvard Management Company (HMC) will also shed roughly half of its 230 employees by year end. "Transitioning away from practices that have been ingrained in HMC's culture for decades will no doubt be challenging at times," Narvekar wrote Wednesday in a letter to the Harvard community. "But we must evolve to be successful, and we must withstand the associated growing pains to achieve our goals."