Investment company Temasek expands the scope of investments
Temasek, an investment company from Singapore, is interested in the Indian startup DotPe. The latter has opened a new round of financing, in which it plans to receive a $50 million investment. The funds will be used to develop the idea of DotPe – the company supports local small businesses in the field of online commerce. It helps such firms enter the market.
Temasek is in talks, planning to lead the investment in the promising project. In addition to the Singapore-based company, DotPe is also backed by Google and Info Edge Ventures.
Temasek Holdings is a leader in Asia in the investment business sector. The company is state-owned and was founded in 1974. Initially, it was placed under the management of 35 firms and organizations from the public sector, including the National Zoo, DBS Bank, as well as Singapore Airlines. At that time, this investment portfolio was valued at S$354 million. By 1992, it was worth 15 billion in local currency. A year later, Temasek acquired the telecommunications company SingTel, bringing the portfolio to S$65 billion.
In 1999, the country’s stock exchange-traded shares of 370 companies, their total market capitalization amounted to 434 billion Singapore dollars, 27% of this number belonged to Temasek.
The key income of the company brings the sale of assets, their volume is estimated at an average of $17 billion Singapore dollars. Temasek also receives money from dividends, and interest from deposits in various funds.
The company has operations in various countries, with offices in China, the United States, India, and other countries. Last year, Temasek negotiated the acquisition of Element Materials Technology. This British company tests and certifies various industrial materials. It is planned that the amount of the deal will be about $7 billion. The seller in this case is Bridgepoint Group, the investment company that has owned Element Materials since 2015.
The sale of the British company became known late last year, when the news caused a surge of interest from many investors, including CPP Investment and Cinven corporations.
This year, Temasek allocated $3.6 billion to create the GenZero investment platform, which aims to accelerate the decarbonization process. For this purpose, it gathers different solutions: technological, projects based on renewable sources, and options for the development of the carbon ecosystem. Through the platform, it will be possible to invest in funds that deal with decarbonization. In addition, GenZero plans to expand its network of partners in order to achieve tangible results as quickly as possible.
