By Ka Kay Lum
The investment is made via Novo Tellus’ second fund, Novo Tellus PE Fund 2.
Malaysia’s Axiata Group, the largest shareholder in M1 Ltd, has accepted a bid from Singapore investors that valued M1 at $1.4 billion.
The value of the deal was not disclosed but Japanese financial research provider DZH Financial Research said it is close to $162.2 million.
Circles.Life will launch operations in more than five markets in the next 18 months, investing over $36.8 million (S$50 million) per launch.
The round was joined by LYFE Capital, CMB International Capital, Lilly Asia Ventures (LAV), Sequoia Capital China and T&Brothers Capital.
Lien Choong Luen will be responsible for GOJEK’s commercial operations and other business activities in Singapore.
In July last year, GIC had reportedly offloaded around $1.7 billion of equity stakes to Goldman Sachs Asset Management.
Standard Chartered Bank has announced the appointment of HSBC executive Chow Wan Thonh as the head of global banking in Singapore.
Antler CEO and founder Magnus Grimeland said the fund was oversubscribed, which led the firm to increase the fund size from an initial $15-20 million.
According to an SGX filing, part of the proceeds will be used to finance the acquisition of 18 Tai Seng Street.