{"product_id":"the-hunt-for-unicorns-how-sovereign-funds-are-reshaping-investment-in-the-digital-economy-paperback","title":"The Hunt for Unicorns: How Sovereign Funds Are Reshaping Investment in the Digital Economy - Paperback","description":"\u003cp\u003eby \u003cb\u003eWinston Ma\u003c\/b\u003e (Author), \u003cb\u003ePaul Downs\u003c\/b\u003e (Author), \u003cb\u003eMargaret Franklin\u003c\/b\u003e (Foreword by)\u003c\/p\u003e\u003cp\u003e\u003c\/p\u003e\u003cp\u003eWho holds the power in financial markets? For many, the answer would probably be the large investment banks, big asset managers, and hedge funds that are often in the media's spotlight. But more and more a new group of sovereign investors, which includes some of the world's largest sovereign wealth funds, government pension funds, central bank reserve funds, state-owned enterprises, and other sovereign capital-enabled entities, have emerged to become the most influential capital markets players and investment firms, with $30 trillion in assets under management (\"\u003cb\u003esuper asset owners\u003c\/b\u003e\").\u003c\/p\u003e \u003cp\u003eTheir ample resources, preference for lower profile, passive investing, their long-time horizon and adherence to sustainability as well as their need to diversify globally and by sector have helped to transform the investment world and, in particular, private markets for digital companies. They have helped create and sustain an environment that has fostered the rise of the likes of Uber, Alibaba, Spotify and other transformative players in the digital economy, while providing their founders and business models the benefit of long-term capital.\u003c\/p\u003e \u003cp\u003eDespite this increasingly important impact, sovereign investors remain mostly unknown, often maintaining a low profile in global markets. For the same reason, they're also among the most widely misunderstood, as many view investments made by sovereign investors as purely driven by political aims. The general perception is that most sovereign investors lack transparency and have questionable governance controls, causing an investee nation to fear exposure to risks of unfair competition, data security, corruption, and non-financially or non-economically motivated investments.\u003c\/p\u003e \u003cp\u003eThe current global tensions around the AI race and tech competition - and now the corona virus pandemic - have exacerbated such misperceptions, spawning controversies around sovereign investors and capital markets, governments, new technologies, cross-border investments, and related laws and regulations. As such, sovereign capital and the global digital economy are undergoing an unprecedented, contentious moment.\u003c\/p\u003e \u003cp\u003eIn short, the emergence of sovereign funds symbolizes a major shift of the world's economic power. For the first time, investment funds from developing countries are playing with OECD financial giants as equals. Furthermore, their investments into high tech enable them to participate at the cutting-edge of the fourth industrial revolution, challenging traditional innovation powerhouses like the US and Germany. For all stakeholders, from tech unicorns, VC funds, asset managers, financial firms, to policymakers, law firms, academics, and the general public, this is the must-have book to get to know these new venture capitalists and \"super asset owners\".\u003c\/p\u003e\u003ch3\u003eFront Jacket\u003c\/h3\u003e\u003cp\u003e\u003c\/p\u003e\u003cp\u003e\u003cb\u003eForewords\u003c\/b\u003e by \u003cb\u003eMargaret Franklin \u003c\/b\u003e(President and CEO, CFA Institute), \u003cb\u003eRussell Read (\u003c\/b\u003eformer CIO, CalPERS, GIC-Kuwait, and APFC) and\u003cb\u003e Ajay Royan\u003c\/b\u003e (Co-founder with Peter Thiel of Mithril VC Funds)\u003c\/p\u003e \u003cp\u003e\u003cb\u003eLook Inside the Trillion Dollar Club of Frontier Investors\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eState-owned investment funds are the new frontier investors, larger in size, influence, and power than the traditional Wall Street of investment banks, asset managers, and hedge funds. They are the 'unicorn-makers' behind the scene. Offering a series of in-depth case studies that combine broad perspectives on the tech investment world with specific national examples, this highly original book examines a vital and increasingly important relationship between governments and globalizing VC tech markets.\u003c\/p\u003e \u003cp\u003e\u003cb\u003e--Anthony Scaramucci, \u003c\/b\u003e Founder \u0026amp; Managing Partner of SkyBridge\u003c\/p\u003e \u003cp\u003e\"Ma and Downs' clear and expansive insights into these disproportionately important and yet little-known institutions will prove critical, both to practitioners in the field of investing as well as to the general public seeking answers to the big picture questions of why the new unicorns transforming their lives arose from the modern financial system.\"\u003c\/p\u003e \u003cp\u003e\u003cb\u003e--Russell Read\u003c\/b\u003e, CFA, Ph.D, former CIO for CalPERS, GIC-Kuwait, and APFC\u003c\/p\u003e \u003cp\u003eThe private sector doesn't have the answers to a growing list of the world's problems. It is the State, working through powerful institutions such as sovereign wealth funds, that has taken a key economic and investment role. Investors need to understand these state-controlled wealth funds - what they do and how they do it - and this book provides a timely update that fills a gap in the literature on global finance.\u003c\/p\u003e \u003cp\u003e\u003cb\u003e--Dato' Seri Cheah Cheng Hye, \u003c\/b\u003e Co-Founder and Co-Chairman, Value Partners; Non-executive Director, Hong Kong Exchanges and Clearing Ltd\u003c\/p\u003e \u003cp\u003eSovereign Wealth Funds (SWFs) lie at the intersection of finance, politics, macroeconomics, and international relations. This book not only constitutes perhaps the most in-depth and insightful investigation of sovereign investors to date, but it starts a broader debate over globalization and state economic intervention in the context of world digital revolution. Invaluable to European governments and businesses, in particular, as the EU strives to become the third tech pillar of the world next to the US and China.\u003c\/p\u003e \u003cp\u003e\u003cb\u003e--Pierre-Yves Lucas, \u003c\/b\u003e Head of Cooperation Mongolia, European Union; former Adviser to the CEO of the SWF of Kazakhstan\u003c\/p\u003e \u003cp\u003e\"A book that, against the backdrop of the world-altering coronavirus epidemic, provides a thoughtful guide to the role sovereign investors play in the world-changing digital transformation - and how one accelerates the other.\"\u003c\/p\u003e \u003cp\u003e\u003cb\u003e--Margaret Franklin\u003c\/b\u003e, CFA, President and CEO, CFA Institute\u003c\/p\u003e \u003cp\u003eThis is a story about Time Machines.\u003cbr\u003e\u003cb\u003e--Ajay Royan, \u003c\/b\u003e Co-founder with Peter Thiel of Mithril VC Funds\u003c\/p\u003e\u003ch3\u003eBack Jacket\u003c\/h3\u003e\u003cp\u003e\u003c\/p\u003e\u003cp\u003e\u003cb\u003eForewords by Margaret Franklin\u003c\/b\u003e (President and CEO, CFA Institute), \u003cb\u003eRussell Read\u003c\/b\u003e (former CIO, CalPERS, GIC-Kuwait, and APFC) and \u003cb\u003eAjay Royan\u003c\/b\u003e (Co-founder with Peter Thiel of Mithril VC Funds)\u003c\/p\u003e \u003cp\u003e\u003cb\u003eLook Inside the Trillion Dollar Club of Frontier Investors\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\"State-owned investment funds are the new frontier investors, larger in size, influence, and power than the traditional Wall Street of investment banks, asset managers, and hedge funds. They are the 'unicorn-makers' behind the scene. Offering a series of in-depth case studies that combine broad perspectives on the tech investment world with specific national examples, this highly original book examines a vital and increasingly important relationship between governments and globalizing VC tech markets.\"\u003cbr\u003e--\u003cb\u003eAnthony Scaramucci, \u003c\/b\u003e Founder \u0026amp; Managing Partner of SkyBridge\u003c\/p\u003e \u003cp\u003e\"Ma and Downs\" clear and expansive insights into these disproportionately important and yet little-known institutions will prove critical, both to practitioners in the field of investing as well as to the general public seeking answers to the big picture questions of why the new unicorns transforming their lives arose from the modern financial system.\"\u003cbr\u003e--\u003cb\u003eRussell Read\u003c\/b\u003e, CFA, Ph.D, former CIO for CalPERS, GIC-Kuwait, and APFC\u003c\/p\u003e \u003cp\u003e\"The private sector doesn't have the answers to a growing list of the world's problems. It is the State, working through powerful institutions such as sovereign wealth funds, that has taken a key economic and investment role. Investors need to understand these state-controlled wealth funds - what they do and how they do it - and this book provides a timely update that fills a gap in the literature on global finance.\"\u003cbr\u003e--\u003cb\u003eDato' Seri Cheah Cheng Hye, \u003c\/b\u003e Co-Founder and Co-Chairman, Value Partners; Non-executive Director, Hong Kong Exchanges and Clearing Ltd\u003c\/p\u003e \u003cp\u003e\"Sovereign Wealth Funds (SWFs) lie at the intersection of finance, politics, macroeconomics, and international relations. This book not only constitutes perhaps the most in-depth and insightful investigation of sovereign investors to date, but it starts a broader debate over globalization and state economic intervention in the context of world digital revolution. Invaluable to European governments and businesses, in particular, as the EU strives to become the third tech pillar of the world next to the US and China.\"\u003cbr\u003e--\u003cb\u003ePierre-Yves Lucas, \u003c\/b\u003e Head of Cooperation Mongolia, European Union; former Adviser to the CEO of the SWF of Kazakhstan\u003c\/p\u003e \u003cp\u003e\"A book that, against the backdrop of the world-altering coronavirus epidemic, provides a thoughtful guide to the role sovereign investors play in the world-changing digital transformation - and how one accelerates the other.\"\u003cbr\u003e--\u003cb\u003eMargaret Franklin\u003c\/b\u003e, CFA, President and CEO, CFA Institute\u003c\/p\u003e \u003cp\u003e\"This is a story about Time Machines.\"\u003cbr\u003e--\u003cb\u003eAjay Royan, \u003c\/b\u003e Co-founder with Peter Thiel of Mithril VC Funds\u003c\/p\u003e\u003ch3\u003eAuthor Biography\u003c\/h3\u003e\u003cp\u003e\u003c\/p\u003e\u003cp\u003e\u003cb\u003eWINSTON MA\u003c\/b\u003e is an investor, attorney, author, and adjunct professor in the global digital economy. Most recently for 10 years, he was Managing Director and Head of North America Office for China Investment Corporation (CIC), China's sovereign wealth fund. Prior to that, Mr. Ma served as the deputy head of equity capital markets at Barclays Capital, a vice president at J.P. Morgan investment banking, and a corporate lawyer at Davis Polk \u0026amp; Wardwell LLP. He is the author of the best-selling books including \u003ci\u003eInvesting in China\u003c\/i\u003e (2006) and \u003ci\u003eChina's Mobile Economy\u003c\/i\u003e (2016). Winston was selected as a 2013 Young Global Leader at the World Economic Forum and in 2014 he received the NYU Distinguished Alumni Award. \u003c\/p\u003e\u003cp\u003e\u003cb\u003ePAUL DOWNS\u003c\/b\u003e practiced international law for more than four decades, most recently as a partner at Hogan Lovells in New York, where he co-founded the Sovereign Investor Practice and initiated its annual Sovereign Investor Conference. He has represented sovereign investors transacting in assets globally, has spoken and published on the topic and guest lectured at Columbia and New York University law schools. Mr. Downs served as President of the American Foreign Law Association.\u003c\/p\u003e\u003cdiv\u003e\n\u003cstrong\u003eNumber of Pages:\u003c\/strong\u003e 384\u003c\/div\u003e\u003cdiv\u003e\n\u003cstrong\u003eDimensions:\u003c\/strong\u003e 0.9 x 8.9 x 6 IN\u003c\/div\u003e\u003cdiv\u003e\n\u003cstrong\u003ePublication Date:\u003c\/strong\u003e January 05, 2021\u003c\/div\u003e","brand":"Books by splitShops","offers":[{"title":"Default Title","offer_id":47382660710578,"sku":"9781119746607","price":39.95,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0770\/3891\/1666\/files\/ceb4e0d992c65049ba27f3da8c53f8b7.webp?v=1777840687","url":"https:\/\/box.dadyminds.org\/products\/the-hunt-for-unicorns-how-sovereign-funds-are-reshaping-investment-in-the-digital-economy-paperback","provider":"DADYMINDS BOX","version":"1.0","type":"link"}