Funding & Business
From Square to Flipkart, Singapore Sovereign Wealth Funds Increase Private Tech Financing Activity

Hedge funds and mutual funds ranging from Tiger Global Management to T. Rowe Price have been frequent participants in mega-financing rounds and billion-dollar valuations this year. Now, sovereign wealth funds are also jumping into the fray.
According to CB Insights data, Singapore’s two sovereign wealth funds – Government of Singapore Investment Corporation (GIC) and Temasek Holdings – are on pace for an annual deal high in 2014 for private transactions.
Most notably, GIC recently led a $150M investment into closely-watched mobile payments startup Square, bumping up its valuation to $6B. But Square isn’t the only high-profile deal the Singapore SWFs have participated in this year. The two Singapore SWFs also participated in landmark deals to Indian eCommerce giants – Flipkart and Snapdeal. GIC partipated in Flipkart’s $1B financing in July at a valuation of $7B, while Temasek participated Snapdeal’s $100M round in May. Separately, Temasek also led a $50M deal into Internet of Things platform Jasper Technologies in April at a valuation of $1B.
The chart below highlights aggregate disclosed tech investment/M&A transactions by the two SWFs since 2010. Of note, 2014 YTD has already seen 3x more private tech deals than 2013. Note: deals by wholly owned Temasek subsidiaries Vertex Venture Holdings and Pavilion Capital were included in the data.
Given the influx and notable deals this year, will we see more VC-backed U.S. startups look to sovereign wealth funds for funding? Weigh in below. If you need to track SWF deal activity, use the CB Insights private company financing database. Create a free account below.
Photo Credit: Terence S. Jones
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Funding & Business
CDC asks all staff to return to office Sept. 15 after HQ shooting

A sign for the CDC sits outside of their facility at the Centers for Disease Control and Prevention Roybal campus in Atlanta, Georgia, U.S., May 30, 2025.
Megan Varner | Reuters
The Centers for Disease Control and Prevention told staff it expects them to return to offices by Sept. 15, roughly five weeks after a gunman’s deadly attack on the agency’s headquarters in Atlanta, CNBC has learned.
“Your safety remains our top priority. We are taking necessary steps to restore our workplace and will return to regular on-site operations no later than Monday, September 15,” Lynda Chapman, the agency’s new chief operating officer, said in an email sent Thursday that was viewed by CNBC.
Chapman said all staff will be expected to return to their offices by that date, according to the email. For employees whose workspaces remain impacted by the shooting — including physical damage from the gunman’s attack — the CDC will provide alternative spaces on its campus, Chapman wrote in the email.
She said the agency has made “significant progress” on repairs at the CDC Roybal Campus in Atlanta. CDC leadership and a “Response and Recovery Management” team are working to address staff concerns and ensure a safe environment as the agency transitions back to in-office work, Chapman added.
CDC staff had been instructed to work remotely following the Aug. 8 shooting, with options to return to the office in the weeks that followed, according to two people familiar with the matter, who requested anonymity for fear of retribution for speaking to the media.
The Department of Health and Human Services did not immediately respond to a request for comment.
The internal announcement comes at a tumultuous time for the CDC and its workforce. The shooting didn’t result in injuries among CDC staff but shell-shocked a workforce that was already reeling from sweeping changes under HHS Secretary Robert F. Kennedy Jr., including staff cuts and heated controversy over his efforts to change CDC immunization policies and fire the agency’s panel of vaccine advisors.
The return-to-office guidance also comes as the CDC grapples with a leadership upheaval: The White House earlier this week said President Donald Trump had fired the agency’s director, Susan Monarez. Four other top officials resigned, some of them citing the politicization of the agency and a threat to public health.
Authorities identified the gunman behind the shooting at CDC headquarters as Patrick Joseph White and said they recovered five guns and more than 500 shell casings from the scene. During the attack, agency employees were forced to barricade themselves in offices.
White fatally shot a responding police officer, 33-year-old David Rose, and then killed himself. White had blamed the Covid-19 vaccine for making him depressed and suicidal.
Before her firing, Monarez appeared to directly blame the role of misinformation in the shooting, according to an email sent to staff on Aug. 12 that was viewed by CNBC.
In the note, Monarez said, “the dangers of misinformation and its promulgation has now led to deadly consequences. I will work to restore trust in public health to those who have lost it- through science, evidence, and clarity of purpose. I will need your help.”
Funding & Business
Spirit Airlines Bankruptcy Tees Up Painful Cuts in Survival Bid

Spirit Aviation Holdings Inc.’s second bankruptcy filing in a year signals that the low-cost carrier is finally facing up to the painful steps needed to ensure its survival.
But its board faces daunting challenges on the path ahead, including how to downsize its fleet of leased aircraft while managing the roller coaster market conditions for US air travel that complicate the prospects for a long-term recovery.
Funding & Business
Rising US Corporate Debt Ahead With $1 Trillion in Deals

US companies are poised to boost their debt levels to help fund a $1 trillion wave of acquisitions, a reversal after years of scaling back their borrowings.
Keurig Dr Pepper Inc. this week said it’s buying coffeemaker JDE Peet’s NV and funding the deal with a €16.2 billion ($19.0 billion) bridge loan. AT&T Inc. said on Tuesday it’s buying spectrum licenses from EchoStar Corp. for about $23 billion, a move that will probably be at least partly funded with bonds.
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