Financial conglomerate Warren Buffett’s Berkshire Hathaway invested $600 million in two start-UPS focused on emerging markets.
According to the Wall Street Journal, the company of billionaire invested in the projects of the Brazilian payment operator StoneCo and India’s largest mobile payment service Paytm. They received $300 million, and in both cases the initiator of the financing is referred to as the conglomerate Manager Todd Combs.
Both investment holding company made by purchasing shares during the IPO. The newspaper said that the investment group Berkshire Hathaway to Finance the projects FINTECH-startups first appeared on the digital market.
Prior to that, the conglomerate Warren Buffett, which manages capital for up to $711,9 billion, focuses on investments in the traditional sectors of the economy. A group of billionaire investor acts as an insurance and utility companies, as well as giants such as Coca Cola.
Support from Berkshire Hathaway proves the growing popularity of the sphere of financial technology. This segment for the first three quarters of this year, has attracted investment of $35 billion.
Buffett himself doesn’t comment, but it is known that the billionaire has repeatedly negatively responded about the cryptocurrency industry and bitcoin in particular.