Temasek Holdings recently invested in R3 – a global banking consortium and blockchain software company. Temasek is an investment firm owned by the government of Singapore. This was disclosed in a report by Bloomberg on the 22nd of November. According to the report, Temasek recently reported the worth of its portfolio (Asia-focused) to be close to $235 billion (S$308 billion) during spring this year.
Temasek Is Shifting Its Focus to AI and Blockchain Technology
Recently, Bloomberg cited an internal memo. The contents of the memo have also been confirmed by a spokesman of Temasek. The memo highlights the global investment strategy of the firm as of Oct 2018. According to the memo, Temasek is trying to respond to the shift in the current investment landscape by shifting its focus to the world’s leading technologies such as artificial intelligence and blockchain technology.
According to the report, the strategy of the firm includes the development of experimental pods. Pods that are set up to focus on investments in artificial intelligence and blockchain technology. The firm considers these two technologies as long-term trends that would have a significant impact on a lot of industries all over the world.
R3 raised a total of $107 million via Series A fundraising back in May. More than 40 institutions and firms invested in R3, and Temasek was one of the investors, according to the memo. The fund raised by R3 was recorded at that time as the largest DLT (Distributed Ledger Technology) investment. So far, no Series A fundraising round has broken that record.
In a private correspondence with Bloomberg, the spokesman of Temasek said that the firm is focused on staying well-positioned and sprightly to grab opportunities that offer long-term, sustainable values. The total amount invested in R3 by Temasek was not disclosed during the announcement.
Back in April, the firm reportedly invested in a $600M Series C fundraising for SenseTime – a China-based AI startup.