NEWS BRIEF: Chinese smartphone maker Xiaomi is raising over US$1 billion in an investment round led by All-Stars Investment, a tech fund run by ex-Morgan Stanley analyst Richard Ji. Wall Street Journal broke the news, citing a person familiar with the matter. Xiaomi declined to comment. The round could close as early as Monday, and would bring Xiaomi’s valuation to over US$45 billion.
Other investors in the round include Russian investment firm DST Global and Singapore sovereign wealth fund GIC. Both previously invested in Xiaomi. Another investor is Yunfeng Capital, a private equity fund affiliated to Alibaba founder Jack Ma.
See more: Here’s why Xiaomi is China’s most important tech company
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