Automotive tech remains hot with GM's $500m investment in Lyft.
This also reflects a much broader theme of an old economy company investing or acquiring companies with new, disruptive business models. We believe that this trend has a lot further to run. Our most recent deal was an old economy company, the Royal Mail, acquiring NetDespatch, an innovative SaaS company.
General Motors Inc said on Monday it will invest $500 million in Lyft Inc and laid out plans to develop an on-demand network of self-driving cars with the ride-sharing service. The biggest single Detroit-Silicon Valley crossover deal to date comes as automakers work out how to respond to the rush of technology companies such as Apple, Alphabet and Uber - Lyft's biggest rival - to control cars of the future and likely reshape the global auto industry.