US PE firm Warburg cuts Ant valuation by 15% to below $200b

US PE firm Warburg cuts Ant valuation by 15% to below $200b

Ant Group's Hangzhou Headquarters. Source: Ant Group

U.S. private equity firm Warburg Pincus, a major global investor in Ant Group, has cut its valuation of the Chinese fintech company by 15% to below $200 billion, a source with direct knowledge of the matter told Reuters.