Temasek and EDBI Help Raise $10 Million in Seed Funding for Engine Biosciences
Engine Biosciences Pte Ltd – a biotech company with roots in both Singapore and San Francisco that specializes in leveraging artificial intelligence (AI) to enhance the speed and efficacy of gene mapping – has raised US$ 10 million in seed funding. The fundraising round was co-led by Silicon Valley’s Danhua Venture Capital and 6 Dimensions Capital, a healthcare investment firm with coverage in both China and the United States. The capital-raising effort also saw contributions from EDBI, the corporate investment arm of the Singapore Economic Development Board, global pharmaceutical research platform provider WuXi Apptec Group, Temasek’s private equity subsidiary Pavilion Capital, and artificial intelligence-oriented tech financier Baidu Ventures.
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From U.S. pension funds to asset-heavy sovereign wealth funds, Singapore is calculating that more institutional investor assets globally are being committed to the Asia region. The Monetary Authority of Singapore (MAS), Singapore’s central bank, signaled and planned to commit US$ 5 billion with locally-based fund managers who will invest in private enterprises and infrastructure projects. The beneficiaries of the mandates will be private equity and infrastructure fund managers. MAS is seeking to lure top global asset managers to Singapore and firms that have a significant footprint in Singapore could be eligible for the funds. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]
In one of the largest transactions in the French office sector, Ivanhoé Cambridge, real estate subsidiary of Caisse de dépôt et placement du Québec (CDPQ), has acquired a 90,000 square meter office-building campus from Natixis, in the Greater Paris area of Saint-Denis Pleyel. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]
GIC Private Limited, Singapore’s sovereign wealth fund, has entered into a 50:50 joint venture with Raffles City China Investment Partners III (RCCIP III), a fund controlled by CapitaLand. The joint venture is acquiring Shanghai’s tallest twin towers for an aggregate consideration of RMB 12.8 billion (US$ 1.84 billion). The property is located in Shanghai’s core Central Business District.
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