Singapore’s EDBI Joins AlphaSense’s Series E Round
Singapore-based investor EDBI has made a strategic investment in AlphaSense, a market intelligence and search platform. The funding comes as part of AlphaSense’s ongoing Series E round, which raised $150 million in September 2020. The round was led by BOND, with participation from existing investors such as CapitalG (Alphabet), Viking Global Investors, and Goldman Sachs Asset Management. EDBI’s investment in AlphaSense is aimed at providing Singaporean financial institutions and enterprises with tools and insights to make data-driven decisions.
Blue Earth Capital Raises $378 Million for Climate Impact Strategy
Impact investment firm Blue Earth Capital has secured $378 million in commitments for its private equity climate impact strategy. The funds include $308 million from the BlueEarth Climate Growth Fund and an additional $70 million from limited partners. The strategy focuses on growth-stage companies that are addressing the impacts of climate change and aims to provide funding to support their scaling and operational development. Blue Earth Capital will leverage its global network and impact framework to offer climate and investment expertise to selected companies.
Aramco Allocates $4 Billion to Global Venture Capital Arm
Saudi Arabian state-owned energy and chemicals company Aramco has announced that it will allocate an additional $4 billion to its global venture capital arm, Aramco Ventures. This will more than double the capital allocated to Aramco Ventures, increasing its total investment allocation from $3 billion to $7.5 billion. The investment will provide support to innovative companies working on addressing global challenges, including the energy transition. Aramco Ventures aims to help bring these ideas to life and contribute to Aramco’s long-term objectives.
Techna-X Acquires 51% Stake in Netsec for Joint Venture
Malaysian investment holding company Techna-X is acquiring a 51% stake in IT firm Netsec to form a joint venture. The joint venture aims to leverage the combined expertise of both companies to target growth opportunities in Southeast Asia’s cybersecurity space. The companies will work together to set new standards in cybersecurity and AI integration, advance cybersecurity solutions developed in Malaysia, and strengthen the country’s position in the field. The joint venture’s long-term objectives include nurturing a skilled workforce and developing AI-based cybersecurity solutions.
Latest Funding Deals in China and India
In China, Zhongshang Technology (Entropy) has raised a significant pre-Series A+ funding round from the China Association for Science and Technology and Jiangling Investment Development Group. Linghao Network Technology, UniXDE, and Yuanda Traditional Chinese Medicine have also secured funding rounds to support their growth and development.
Meanwhile, in India, Fetcch, Jeh Aerospace, and International Battery Company (IBC) have raised funds in pre-seed and seed funding rounds. Upswing Financial Technologies, Medial, and The Renal Project are among the other Indian startups that have secured funding for their operations and expansion plans. Additionally, ZestMoney has been acquired by DMI Group, and Nazara Technologies has raised $30 million in further tranches of its funding round.
Analyst comment
Positive news: Singapore’s EDBI investing in AlphaSense, Blue Earth Capital raising $378 million for climate impact strategy, Aramco allocating $4 billion to venture capital arm, Techna-X acquiring stake in Netsec for joint venture. These investments and acquisitions indicate confidence in the respective industries and suggest potential growth opportunities. The market may see increased activity and advancements in market intelligence, climate impact, energy transition, cybersecurity, and AI integration in Southeast Asia. Funding rounds in China and India also reflect a favorable investment climate and support for startups in these regions.
