SG digest: iSTOX launches unicorn fund; Goldman Sachs buys White Ops

Cybersecurity is crucial in an electronic world.

Digitised securities platform iSTOX has launched ICHAM Unicorn Opportunity Fund, a unicorn fund, while Goldman Sachs’s merchant banking division has acquired the global cybersecurity firm White Ops.

iSTOX launches new unicorn fund

iSTOX, a Singapore-based blockchain-powered digitised securities platform, has launched a unicorn fund in digitised securities from, ICHAM Unicorn Opportunity Fund, according to a media report.

The fund aims to make investments in unicorns by acquiring equity from current shareholders in the secondary market. It targets a diversified portfolio of late-stage, highly-valuable unicorns based in Asia, Europe, and the US.

ICHAM Unicorn Opportunity Fund will focus on companies or initiatives with a proper business model and a clear path to sustainable growth. Besides, the companies will need to have a disruptive impact in their sectors, as well as visibility of an exit in two to three years. iSTOX partners with the wealth and fund management firm ICHAM as the fund manager of this unicorn fund. iSTOX is backed by Singapore Exchange (SGX) and Heliconia Capital Management, a subsidiary of Temasek Holdings.

Goldman Sachs unit buys cybersecurity firm White Ops

Goldman Sachs Merchant Banking Division, along with ClearSky Security and NightDragon, has acquired the global cybersecurity firm White Ops, according to a press announcement. The transaction is a follow-on acquisition after Goldman Sachs and ClearSky’s initial investments in the company in May 2020.

The investors acquired White Ops from Paladin Capital Group, Grotech Ventures, and other shareholders. However, the terms of transactions were not disclosed. The acquisition by these investors will support White Ops in its next phase of growth and further accelerate its expansion into new markets, it said.

White Ops’ core focus is to protect enterprises from sophisticated bot attacks and fraud across cybersecurity, digital advertising, and marketing, serving some of the largest enterprises and internet platforms. The company’s customer base grew around 40% in 2020, while its employee base grew 25%.

Following the acquisition, Goldman Sachs’ representative will join White Ops’ board of directors. Managing partner of ClearSky Jay Leek will also join White Ops’ board along with Dave DeWalt, the founder and managing director of NightDragon.

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.