The first thing you need to know about fca fintech: How to invest in the fca stock portfolio
FCA has announced a new strategy to increase the value of its fintechnical portfolio by leveraging its investments in Alibaba and UberX, as well as its stake in Softbank, according to a filing with the Indian securities regulator.
The new strategy aims to raise around $100 billion in investments over the next five years, it said in the filing, adding that the investments would be made in technology and artificial intelligence, as the two sectors would help boost the company’s growth.
Finance Minister Kapil Sibal told reporters on Thursday that the new strategy will “add to our strong and robust position in fca’s portfolio of technology-related investments” and that the government is “committed to making investments in India’s leading technology companies”.
The strategy will be implemented from 2020-2022, Sibal said.
The company did not disclose the specific sectors of investments it is seeking to invest.
Alibaba, the world’s biggest online marketplace for goods and services, said it would also seek to raise about $10 billion in its fca portfolio over the same period, according the filing.
Alphabet, the parent company of Google, also said it will invest about $100 million in the company, which also includes investments in Lyft and Uber.
Alibaba said it intends to expand its investments into fca by expanding its existing investment base.
“Alibaba’s investments will help expand and grow our fca business, which includes investments, operations and research and development, and accelerate our ability to continue to build a competitive ecosystem,” the company said in a statement.
The firm has a net worth of about $18 billion, with a valuation of $2.7 billion.
Uber, which is valued at $18.7bn, has raised more than $100bn since its inception in 2012.
UberX is a ride-hailing service that aims to help users in the US, Europe and Asia.
Uber has also been trying to diversify its investments.
In February, the firm announced a $1 billion investment into AI startup Baidu and said it was expanding its investment base by investing $200 million in Baidun in 2018.
UberX, a startup that has been operating in India, has also said that it would invest $100m in the country.
Allegations that Uber was paying bribes to the Indian government have long dogged the company and its founder, Travis Kalanick, after it was revealed that he accepted $1.2 billion in payments from a local government.
Kalanick has denied wrongdoing, and has said he will fight the charges.