Sovereign funds seek diamonds in the Covid rough

As sovereign wealth and pension funds continue their push into early-stage investments, notably in healthcare and technology, Covid-19 has created more opportunities by pushing down valuations in some sectors. Sovereign wealth funds may be using their cash reserves to buy stakes in companies as asset valuations fall due to pandemic-driven market uncertainty, say venture capitalists. Companies seeking funding, particularly at the earliest deal stages, will probably have to compromi…