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Temasek Capital Launches inCube

The press release states, “Temasek Capital announced that it has launched “inCube”, an innovative incubation programme aimed at helping and supporting startups, early stage and established technology companies bring their products and services to world markets. To be marketed under the brand name “inCube”, the programme will leverage on Temasek’s extensive network of companies and global business partners to offer incubatees a unique combination of seed funding, network support, facilities, management support and branding.

2 Mr Tan Soo Nan, Chief Executive Officer of Temasek Capital, explained, “We want to capitalise on the strong growth in R&D activities in Singapore as well as in other parts of the world. inCube is not just mere physical space. It allows the incubatees to interact with a suite of complementary services and affinity partners, ranging from financial management support to marketing, human resources and research institutes. What sets inCube apart from other incubators is our ability to offer incubatees access to global markets, particularly China and India, through our network of incubator facilities. inCube is therefore well-positioned to transfer new technology and business concepts into Singapore, and help Singapore companies accelerate their growth and expand globally.”

3 inCube is actively developing a global network of incubator facilities to foster synergies, and has set up three centres in three technology cities in Asia – Singapore, Chennai (India) and Shenzhen (China). There are plans to link inCube with some of the leading incubators in other technology cities in Australia, Europe, Japan, Korea and the United States.

4 For a start, inCube has signed on two incubatees: eGurkha and Bijitec. eGurkha is a software company that has developed a suite of monitoring applications which helps e-businesses to improve the reliability and responsiveness of their web sites through effective and proactive monitoring. eGurkha, which was originally based in India, is now headquartered in Singapore with subsidiaries in India and USA. inCube has made an equity investment of S$7 million in eGurkha.

5 Mr Srinivas Ramanathan, CEO of eGurkha said, “inCube, with the strong Temasek brand name behind it, will contribute significantly towards our initial marketing efforts in Singapore and the rest of Asia. Once we have developed a strong foot hold in Asia, we can then penetrate the US market with our superior features and competitive pricing.”

6 Bijitec, into which inCube has invested S$2 million, specialises in software products that enable handwritten messages to be edited and transmitted via a variety of platforms, such as personal computers, PDAs and mobile phones, including via short messaging service (SMS) on mobile phones. Bijitec’s software is especially suited for ideographic languages such as Chinese, Japanese, Korean, and other Asian and Mid-Eastern languages. Bijitec has signed a co-operation agreement with ZTE, a leading telecommunications company listed on the Shenzhen stock exchange in China. Under the agreement, ZTE will incorporate Bijitec’s software in its new range of mobile phones to be launched in 2001.

7 Mr Dave Chen, CEO of Bijitec commented, “Our target customers are the telecommunications and IT companies. With inCube and Temasek Capital as our partner, we will be able to leverage on their strong global network of telecommunications and IT industry players. This is a great boost to our growth prospects.”

About Temasek Capital

8 Temasek Capital is the direct investment arm of Temasek Holdings. Temasek Capital seeks investment opportunities around the world. Its focus is on traditional private equity opportunities, as well as early to mid-stage technology and life sciences related investments. Temasek Capital aims to be the investor of choice for companies in Singapore and overseas.”

Read more: Temasek Holdings

Asian Sovereign Funds Not Slowing Down on Tech Investing

According to data from SWFI’s Sovereign Wealth Fund Transaction Database, Asian sovereign funds invested US$ 6.05 billion directly into companies and assets in the information technology sector from Jan 2017 to November 22, 2017. In a comparable time frame from Jan 2016 to November 22, 2016, this same group of Asian sovereign funds directly invested US$ 5.02 billion in the sector. These are direct investments, not fund commitments or manager allocations.

Asian sovereign funds such as GIC Private Limited, Temasek Holdings and the Korea Investment Corporation (KIC) have demonstrated bullish signals to the technology community over other sectors. GIC and Temasek have also been major investors in the private side of deals, funding a wide range of tech startups, while providing financial firepower in buyout transactions.

Some notable direct tech investments in 2017 by sovereign funds include Meituan-Dianping, SoundCloud, Nets A/S, Visma AS, Turn, Inc. and Vantiv.

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Future Fund Makes a Guardian Out of Former J.P. Morgan ANZ Chair

The Australian government has appointed Robert Priestley – current non-executive chair of J.P Morgan for Australia and New Zealand (ANZ) and a non-executive director of ASX – to serve on the Future Fund Board of Guardians for a five-year term from November 7, 2017. Priestley replaces former Morgan Stanley Australia chief executive Steven J. Harker.

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Associated British Ports Reboots Property Development Arm to Capitalize on Land Bank

Associated British Ports (ABP) – operator of 21 major ports throughout the United Kingdom – has announced a reboot of its ABP Property division, complete with a new team of specialists in commercial development and logistics led by Huw Turner, in order to identify and develop strategically significant locations in its 2,372 acre land bank.

ABP is owned in large part by a consortium of pensions and sovereign funds, including the Canada Pension Plan Investment Board (CPPIB) at 33.88% ownership, OMERS at 30%, Singapore’s GIC Ventures Pte Ltd at 20.00% ownership, and the Kuwait Investment Authority at 10.00% ownership. Large institutional investors such as sovereign funds, pensions, and endowments have slowly increased allocation towards infrastructure over the past six years as an alternative to equities and bonds, according to asset allocation data from SWFI.

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