Singaporean sovereign wealth fund piles in OakNorth fundraise

Singaporean sovereign wealth fund piles in OakNorth fundraise

The UK’s newest unicorn proves hot property for GIC, one of the world’s largest sovereign wealth funds. Challenger bank OakNorth entered into the UK’s stable of unicorns in October when it raised £154m . For the uninitiated, a unicorn is a private tech firm with a valuation north of a billion dollars. The £154m round valued OakNorth at £934m (approximately $1.3bn). The money came from three investors, The Clermont Group, Toscafund and Coltrane, which collectively took a 16 per cent stake in the company. Today, the trio has been joined by a fourth investor: GIC, Singapore’s sovereign wealth fund. […]