Temasek's Heliconia invests US$10m in Carousell
TEMASEK unit Heliconia Capital has pumped US$10 million into classifieds platform Carousell, at the same US$1.1 billion valuation of the startup's funding round in September.
Regulatory filings indicate that Heliconia purchased over 577,000 shares of Carousell for US$17.30 each, via its vehicle Orchid 3 Investments VCC, as earlier reported by DealStreetAsia.
Back in September, Carousell announced a US$100 million fundraise led by South Korean private equity firm STIC, taking its previous US$900 million valuation past the much-anticipated US$1 billion mark.
Carousell is said to be considering a public listing in the United States through a merger with a special-purpose acquisition company. Regulatory filings indicate that the Singapore-based company aims to provide its investors with an exit by 2024, at a valuation of at least US$1.13 billion.
READ MORE:
GET BT IN YOUR INBOX DAILY
Start and end each day with the latest news stories and analyses delivered straight to your inbox.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Startups
Grab-led GXBank teams up with Zurich to offer affordable insurance
GoTo eyes private placement of 120.1 billion shares
SoftBank leads US$1 billion funding for UK self-driving startup Wayve
Singapore battles to revive struggling stock market
NSG BioLabs bags US$14.5 million funding; inks tie-ups with Merck, EnterpriseSG
Singapore’s Anywheel gets green light to expand fleet to 35,000