Singapore’s GBCI Ventures leads $10m pre-Series A funding for China’s Cailu

Douglas Gan, CEO & co-founder of GBCI Ventures.

GBCI Ventures, a Singapore-based $100-million smart city venture fund, has led a $10-million pre-Series A round for Chinese blockchain media firm Cailu.

Orka Capital, a Singapore-based digital asset investment fund, also participated in the round.

Founded in 2018, Cailu integrates industry information, content socialization and token mechanism to provide content and servers to users and creators. 

Cailu will invest the fresh capital in further research and development on blockchain immersion media (IM), CLC ecosystem building, engineering expertise, platform operations and partnership programs to build a blockchain ecosystem. CLC is the financial monetization fuel used to incentivize users to act within the platform. 

GBCI Ventures CEO and co-founder Douglas Gan said: “Sharing is one of the characteristics of smart cities. Cailu, a sharing-based and a decentralized blockchain media platform, incentivise high-quality news and disincentivise low-quality content and even fake news; aims to become a major influencer on how blockchain can shape smart cities.”

“With the increasing proliferation and interest from both major institutions and the public in Blockchain technology, Cailu would be a great avenue to create awareness and dialogue between the two. This would lead to greater and faster advancement and adoption to usher in new and innovative tech to shape the way we conduct businesses in the future,” said Zheng Jian Wei, co-founder of Orka Capital.

GBCI Ventures had in February said that it had closed its $100-million smart city fund, with plans to fully deploy it by October this year.

The fund targets infrastructure projects covering roads, homes, renewable energy, sustainability and vertical farming. It also seeks projects that can be deployed in One Belt One Road (OBOR) markets.

GBCI’s investors include a Chinese corporate venture capital firm and family offices from Japan, Hong Kong, Taiwan and mainland China.

In a statement, GBCI added that 70 per cent of its fund is dedicated to venture building and 30 per cent to VC activities that will eventually be merged or acquired by GBCI. Its venture building team is 1000-people-strong across eight countries in Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.