FINANCIAL NEWS

Qatar’s sovereign wealth fund takes share in German firm

17 Mar 2017

(MENAFN) Qatar’s sovereign wealth fund has taken a share in Rocket Internet’s recipe and ingredients business HelloFresh as part of announced fundraising.

The German firm has built up dozens of businesses from fashion e-commerce to food delivery, while many investors have become concerned about heavy losses.

Accordingly, Rocket Internet said that HelloFresh had raised USD91.16mn from an unnamed leading global investor and existing shareholder Baillie Gifford.

Meanwhile, Rocket Internet’s share in HelloFresh stands at 53 percent, which is one of its biggest holdings and is viewed as a potential candidate for an initial public offering.

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