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Business trends

Singapore's Temasek and GIC prowl Asia for the next Alibaba

State investors step up investment into cafe chains and fintech in China

A barista packs an online order at a Luckin Coffee shop in Beijing. GIC has taken a stake in the Chinese cafe operator.   © Reuters

SINGAPORE -- Temasek Holdings and GIC, managers of Singapore's sovereign wealth, are putting more emphasis on private equity investments in Asia, which have produced a number of $1 billion unlisted startups in the past few years.

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