Singapore sovereign fund GIC: Increased short-term volatility risk due to investment in DCG

ChainCatcher news, according to straitstimes, Singapore's sovereign fund GIC stated that due to the recent troubles of cryptocurrency broker Genesis Trading and its parent company DCG. Given that GIC has previously invested in DCG, it is expected that GIC's investment volatility will increase in the short term.

It is reported that in November 2021, DCG completed a $700 million financing at a valuation of $10 billion, led by SoftBank's Vision Fund 2 and SoftBank Latin America Fund, with participation from GIC Capital, Ribbit Capital, and CapitalG, a private equity investment firm under Google's parent company. (source link)