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Former Facebook Veteran Leads Sovereign Wealth Backed Venture Capital

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Asian sovereign wealth funds are becoming larger players in Silicon Valley, as sovereign wealth centers on popular technologies such as cloud computing and the share economy. Temasek Holdings (through a sovereign wealth enterprise), Khazanah Nasional and Singapore’s GIC Private Limited, all have offices in the San Francisco Bay Area. With sovereign wealth capital funding U.S. startups like Uber, Square and MongoDB, more serial entrepreneurs are looking to engage this patient pool of capital. Vertex Ventures, a wholly-owned subsidiary of Singapore sovereign wealth fund Temasek Holdings, focuses on making venture capital investments. Vertex Ventures has invested in U.S. startups such as PayPal, QuickLogic, Vastera, Aurum Software and R2 Technology Inc. Startup executives, from companies such as Facebook, are being lured toward sovereign wealth funds.

He is known in startup circles as Facebook’s “cloud fixer” and was the social networking giant’s vice president of technical operations.

View Institutional Investor Profile of Temasek Holdings

Vertex Ventures

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PSP Investments and Blue Sky Alternative Investments End Strategic Partnership Agreement

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Blue Sky Alternative Investments Limited informed Canada’s Public Sector Pension Investment Board (PSP Investments) that it agreed to terminate its strategic agreement effective March 31, 2019. In December 2017, Blue Sky Alternative Investments forged an agreement with PSP Investments to assist in committing capital in a number of agricultural investments.

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Yield-Hungry Korean Insurance Capital Backs TSX Broadway

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Mirae Asset Daewoo Co., Ltd., the Seoul-based investment banking firm, has provided a US$ 375 million loan for a redevelopment in New York’s Times Square. It joins L & L Holding Company, Maefield Development, and Fortress Investment Group who are bringing the development known as TSX Broadway to life. The building is at 1568 Broadway in Manhattan. TSX Broadway, a US$ 2.5 billion project when all equity financing is added in, will allow for renovations and expansion of the 46-storey building. An LED screen, which is not an uncommon sight in the Big Apple, will wrap around the corner of the tower. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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OFFICIALS: Saudi Crown Prince Denies Interest in Acquiring Manchester United

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The Saudi Arabian government dispelled rumors that Saudi Crown Prince Mohammed bin Salman will acquire football club Manchester United. However, Saudi Arabia’s Public Investment Fund (PIF) had talks regarding sponsorship with the football club. Manchester United signed a partnership deal with Saudi Arabia’s General Sports Authority in 2017.

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