SG’s Goldbell in talks to launch $60m Asia-focused venture fund by next year

Singapore’s Goldbell Investments is looking to launch a $60-million Asia-focused smart mobility and logistics venture fund by the first quarter of next year, a senior company executive told DealStreetAsia.

The first close of the proposed fund is expected to be made by October 2021.

Titled Cube3 Ventures, the fund plans to invest mainly in startups operating in smart mobility, automotive, logistics sectors. Goldbell Investments is the corporate venture capital fund of transport and engineering group Goldbell Group.

“We have closed an investor from the transportation sector and are currently in discussions with a number of players in areas of mobility, logistics, energy and smart cities in Asia,” said Arthur Chua, CEO at Goldbell Group, without divulging further details.

Besides scouting for new startups, Cube3 Ventures seeks to ramp up investments in the group’s existing portfolio firms. It plans to pump in capital in the range of $500,000 to $2 million in startups in their pre-seed to Series A stage.

Since its inception in 2017, Goldbell Group has been investing capital from its balance sheet, with all transactions being routed through Goldbell Investments.

So far, it has pumped in over $15 million in more than 17 startups across Israel, the US, and the UK, besides its home country, Singapore.

“The idea for the fund is to provide significant value to its portfolio startups,” Chua said, highlighting the group’s increased interest to foster entrepreneurship across Asia.

Goldbell’s portfolio companies include Isreal’s UVeye, which develops automated inspection systems for vehicles using AI and proprietary hardware, the US-headquartered Waycare, which collects data from transportation agencies’ existing infrastructure.

In Singapore, it has a few investments too. These include names such as Swat, a shared mobility technology company, Haulio, which claims to be the largest container haulage platform in the city-state, among others.

Goldbell has another subsidiary called Polaris – a launchpad for businesses aspiring to accelerate their growth – that primarily focuses on fintech startups.

Established last year, the platform provides loans to startups. It offers different financing options like revenue-based, and supply-chain financing, among others, with investments spanning up to $1 million.

Polaris has made investments in firms such as Rely in the fintech sector, and B2B marketplace Eezee, among others.

Earlier this year, Goldbell made headlines when it announced the acquisition of BlueSG, a leading player in the electric vehicle car-sharing market in the city-state. The deal is expected to be completed before August 2021.

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.