Investor Taizo Son leads funding in Golden Equator
Singapore
SERIAL entrepreneur Taizo Son is not quite seized by fears of a tech bubble, even as there are signs of an "overvaluation" in the tech space.
The comments from the venture capitalist come as he led a S$24.6 million "strategic investment" in Singapore-based "ecosystem builder" Golden Equator this week, Golden Equator told The Business Times.
Golden Equator declined to say what percentage of the funds came from Mr Son, who is based in Singapore and runs a venture capital outfit called Mistletoe. Mr Son is also an adviser to Golden Equator.
Mr Son was asked by BT on how he picks the right startups to invest in, as well as how he values them. He replied that as "big guys" join in to invest, "there will most likely be overvaluation". But he did not see a "whole bubble situation".
"For Mistletoe, we are betting on the long-term future, and hence the risk profile will be higher than the usual VC investments," he said by email. "But it is worth doing to support the next generations."
An example of doing good for the benefit of future generations is his investment in Astroscale, a Singapore-based company started by a Japanese, Nobu Okada.
Astroscale provides orbital debris removal services.
Mistletoe, which is reportedly fully funded by Mr Son, describes its mission as creating "sustainable human-centered future using technology".
On its website, Mistletoe has disclosed US$155 million investments in 97 unidentified startups, and US$90 million invested in venture funds as a limited partner.
The new funds invested in Golden Equator included monies from investors in Japan, Korea, Qatar, Indonesia, Brunei, Taiwan and Singapore, said Golden Equator. They include members of the royal families, chairmen of large multinational corporations, senior executives from sovereign wealth funds, and academics.
Golden Equator said the funds will not go directly towards investing in tech startups, but will be used for expansion across its business lines.
In defining itself as an "ecosystem builder", Golden Equator said it aims to build a network of experienced leaders and businesses in the region to facilitate collaboration and investments. Such collaboration will include efforts to spot and fund the development of innovative solutions for the next decade.
Among other things, the group runs a fund management firm that launched a S$120 million co-managed venture fund with Korea Investment Partners. It also has a consulting arm that will be running the Brunei government's next three cycles of accelerator programmes.
Golden Equator was started in 2012 by Shirley Chua, an ex-Citibanker who has worked with wealth clients from Asia and Europe.
