One of Neil Woodford's main holdings, Benevolent AI, is set to see its valuation halve on the back of investment from a Singapore wealth fund far lower than its $2bn (£1.6bn) valuation.
Tech firm Benevolent AI, which is headed up by former Government minister and former Facebook executive Joanna Shields and has already signed deals with pharamceutical giants Astra Zeneca and Novartis, is expected to announce that Temasek will take a minority stake in the firm, valuing the firm at $1bn (£800m), The Times reports. The tech start-up firm was backed by Woodford and comprises approximately 4.5% of the Woodford Equity Income Fund (WEIF) and just under 10% of Woodford's Patient Capital trust (WPCT), data from Hargreaves Lansdown shows. WEIF is thought to have lost over £40m...
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