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:

• Heliconia, with AUM over S$2b, hunts investments in new consumer trends 

• Carousell acquires sneaker marketplace Ox Street 

A NEWSLETTER FOR YOU

Monday, 3.30 pm

Garage

The hottest news on all things startup and tech to kickstart your week.

Sign Up