Sequoia-backed Smartkarma receives investment from Singapore Exchange

REUTERS/Edgar Su

Singapore-based independent investment research and analysis provider Smartkarma has received a strategic investment from Singapore Exchange, marking the next step in ensuring a vibrant financial research ecosystem.

Existing investors including Sequoia India and Wavemaker Partners also participated in this investment, which affirms their ongoing confidence in Smartkarma, according to a statement.

The strategic investment, which cements a joint journey of collaboration between SGX and Smartkarma, aims to bolster Singapore’s research and financing ecosystem.

It is in line with the Monetary Authority of Singapore’s (MAS) recent announcement of the Grant for Equity Markets (GEMS) to strengthen research coverage of Singapore enterprises.

SGX will be the first exchange in the world to bring this global platform to all its listed and upcoming companies, as well as global bond issuers.

SGX-listed companies and bond issuers will get value from connecting directly to investors and analysts, and distributing pivotal updates and information to their networks quickly and efficiently.

“Shifting regulations and changes in the investment research industry are affecting all parts of the ecosystem. From the very beginning, we have been working hard to address the fundamental gaps we see around us,” said Raghav Kapoor, Co-Founder and CEO of Smartkarma.

Founded in 2014, Smartkarma is a global investment research network, comprising independent insight providers who produce, curate, and publish unbiased intelligence for institutional investors.

Smartkarma reinvents research by providing differentiated, independent analysis on companies, markets, and industries across the world.

The platform has raised a total of $21 million in funding over 3 rounds, according to Crunchbase. Their latest funding was raised on Nov 6, 2017 from a $13.5 million Series B round, led by Sequoia India for its international expansion.

SGX is Asia’s international multi-asset exchange and foreign exchange (FX) marketplace. Recently, it has acquired a 20 per cent stake in BidFX, a forex trading platform, for $25 million, with an option to take a majority interest in the company.

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.