Temasek aims to invest in a few more Asean 'aspiring unicorns' by year-end; Vietnam a key market
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TEMASEK Holdings is actively focused on "aspiring unicorns" out of South-east Asia, and expects to announce a couple of deals in the pipeline in the next few months, its senior executive told The Business Times on Thursday.
These deals come as the Singapore investment firm has spent the last 12 months making a few investments in that space. They include fashion startup Zilingo, which raised a total of US$226 million in February from Temasek and existing backers such as venture capital firm Sequoia Capital. More recently in September, Temasek was one of the firms leading the US$40 million funding round for Indonesia's beauty platform Social Bella.
In its e-Conomy 2019 report - an annual research project done by Temasek, Google and Bain & Company - Temasek found that nearly 70 companies are valued between US$100 million and US$1 billion in South-east Asia.
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