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2021-06-03

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Singapore’s iGlobe Starts $100 Million Fund for Fintech, Biotech

Firm’s fourth fund will focus on cross-border investments IGlobe was founded by Singapore VC pioneer

Singapore’s iGlobe Starts $100 Million Fund for Fintech, Biotech

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Vikkilai
·2021-06-03
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The new fund, which was oversubscribed, will back startups including cancer diagnostic serviceC2i Genomics Inc.and personal finance startupNerdWallet Inc.in the U.S. as well as Singapore-basedDocquity, a mobile app for doctors, andTonik, a digital bank in the Philippines.</p>\n<p>“We focus on cross-border deep tech, which other people can’t easily copy,” IGlobe founder Koh Soo Boon said in an interview. “We are in the business of building companies, rather than just making a quick buck.”</p>\n<p>Koh started IGlobe in Silicon Valley in 1999 and moved its headquarters to her native Singapore a decade later. The firm has scored big with Mountain View, California-basedMatterport Inc., which helps consumers visit properties and shopping malls virtually andis going publicin a $2.9 billion deal. IGlobe joined Matterport’s Series A fundraising and three subsequent rounds.</p>\n<p>Other IGlobe portfolio companies includingGinkgo Bioworks Inc.,Hippo Enterprises Inc.and NerdWallet are also planning to go public in the U.S. this year, allowing the firm to deliver strong returns, according to Koh. IGlobe’s future investments could include women’s health care, mental health care and <a href=\"https://laohu8.com/S/DDD\">3D</a> printing startups, she said.</p>\n<p>IGlobe Platinum Fund Ihas delivered 13 times capital return with a net internal rate of return of 33%, making it <a href=\"https://laohu8.com/S/AONE\">one</a> of the top 5% of VC funds launched in 2010 globally, according to the company.</p>\n<p>“IGlobe is often the sole investor from Asia in the investment deals it is involved in,” Managing Partner Yoke Sin Chong said in the statement. “Our global network allows us to facilitate as the bridge between the <a href=\"https://laohu8.com/S/WRN\">Western</a> and Asian startup ecosystems.”</p>\n<p></p>\n<p></p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Singapore’s iGlobe Starts $100 Million Fund for Fintech, Biotech</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSingapore’s iGlobe Starts $100 Million Fund for Fintech, Biotech\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-03 10:10 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2021-06-02/singapore-s-iglobe-starts-100-million-fund-for-fintech-biotech?srnd=premium-asia><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Firm’s fourth fund will focus on cross-border investments\nIGlobe was founded by Singapore VC pioneer Koh Soo Boon\n\nSingapore’sIGlobe Partnersclosed its latest venture-capital fund, which plans to ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2021-06-02/singapore-s-iglobe-starts-100-million-fund-for-fintech-biotech?srnd=premium-asia\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.bloomberg.com/news/articles/2021-06-02/singapore-s-iglobe-starts-100-million-fund-for-fintech-biotech?srnd=premium-asia","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1120548380","content_text":"Firm’s fourth fund will focus on cross-border investments\nIGlobe was founded by Singapore VC pioneer Koh Soo Boon\n\nSingapore’sIGlobe Partnersclosed its latest venture-capital fund, which plans to invest $100 million in startups focusing on synthetic biology, fintech and technologies for smart cities.\nThe firm’s fourth fund, IGlobe Platinum Fund III, will back 15 to 20 startups across the U.S., Europe and Southeast Asia to fund their growth over the next three years, according to a statement from the company on Thursday.\nIGlobe, with a history of more than two decades, is betting on emerging trends in health care and technology to fuel its growth. The new fund, which was oversubscribed, will back startups including cancer diagnostic serviceC2i Genomics Inc.and personal finance startupNerdWallet Inc.in the U.S. as well as Singapore-basedDocquity, a mobile app for doctors, andTonik, a digital bank in the Philippines.\n“We focus on cross-border deep tech, which other people can’t easily copy,” IGlobe founder Koh Soo Boon said in an interview. “We are in the business of building companies, rather than just making a quick buck.”\nKoh started IGlobe in Silicon Valley in 1999 and moved its headquarters to her native Singapore a decade later. The firm has scored big with Mountain View, California-basedMatterport Inc., which helps consumers visit properties and shopping malls virtually andis going publicin a $2.9 billion deal. IGlobe joined Matterport’s Series A fundraising and three subsequent rounds.\nOther IGlobe portfolio companies includingGinkgo Bioworks Inc.,Hippo Enterprises Inc.and NerdWallet are also planning to go public in the U.S. this year, allowing the firm to deliver strong returns, according to Koh. IGlobe’s future investments could include women’s health care, mental health care and 3D printing startups, she said.\nIGlobe Platinum Fund Ihas delivered 13 times capital return with a net internal rate of return of 33%, making it one of the top 5% of VC funds launched in 2010 globally, according to the company.\n“IGlobe is often the sole investor from Asia in the investment deals it is involved in,” Managing Partner Yoke Sin Chong said in the statement. “Our global network allows us to facilitate as the bridge between the Western and Asian startup ecosystems.”","news_type":1},"isVote":1,"tweetType":1,"viewCount":477,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":14,"xxTargetLangEnum":"ORIG"},"commentList":[{"id":4556477,"commentId":"4556477","gmtCreate":1622688294020,"gmtModify":1663227847230,"authorId":3550480657175062,"author":{"id":3550480657175062,"idStr":"3550480657175062","authorId":3550480657175062,"name":"Vikkilai","avatar":"https://static.itradeup.com/news/d30982eb743a47b466a91dbc6d1be49e","vip":1,"crmLevel":4,"crmLevelSwitch":1,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":111556184,"objectIdStr":"111556184","type":1,"supId":0,"supIdStr":"0","prevId":0,"prevIdStr":"0","content":"<u>Ok</u>","text":"<u>Ok</u>","html":"<u>Ok</u>","likeSize":0,"commentSize":0,"subComments":[],"verified":10,"allocateAmount":0,"commentType":"invalid","coins":0,"score":0}],"hasMoreComment":true,"orderType":2}