Pundi X partners QEAM to launch $100m blockchain fund in early 2019

Cryptocurrency mining machines sit in operating racks at the home of Dmitry Gutov, a Russian cryptocurrency 'miner,' in Krasnogorsk, Russia, on Thursday, Sept. 7, 2017. Photographer: Andrey Rudakov/Bloomberg

Blockchain developer Pundi X is partnering with Singapore-based Quantum Energy Asset Management (QEAM) to launch a $100-million blockchain fund, which is expected to officially launch in January 2019.

According to an official statement, the QEX Fund SP aims to grow the Function X blockchain ecosystem.

Function X is a blockchain under development by Pundi X and supports extending the uses for blockchain beyond financial transfers to include sending and publishing data in a decentralised way without intermediaries.

The hybrid fund will comprise venture capital and private equity assets making up 70 per cent of the portfolio. The remaining portion will be in traditional liquid assets, including listed equities, corporate bonds and alternative assets like properties and derivatives.

Zac Cheah, CEO of Pundi X, said: “Aside from plans to generate returns, the fund will also target strategic investments in startups that complement our business, particularly the new possibilities now open for decentralised communication and data storage on the Function X blockchain.”

Vic Tham, CEO of QEAM and Chief Investment Officer of Pundi X said: “We see an immense opportunity for private equity investments in cutting edge technological developments, particularly in Asia and in industries such as fintech and blockchain. What makes us unique is the power of two – the combination of deep tech and finance investment approach. QEX will be built on that intersection.”

Pundi X is based in Singapore, with offices in London, Jakarta, Sao Paulo, Seoul and Tokyo.

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.