SG Digest: Validus partners Nafoods; Prime US REIT to buy office asset

The Vietnamese entity of Singapore-based SME financing platform Validus Capital has collaborated with agriculture company Nafoods while Prime US REIT is acquiring a property in the US for $165.5 million.

Validus partners with Vietnam’s Nafoods 

Validus Vietnam, the local entity of Singapore-based SME financing platform Validus Capital, has entered into a supply chain financing collaboration with Nafoods Group JSC (Nafoods).

The pact will cover SMEs in Nafoods’s ecosystem, according to a statement.

This marks Validus Vietnam’s third such partnership in the country in less than three months,
following its pilot with pharma retailer Medicare Vietnam and construction firm Unicons.

Validus expanded its operations to Vietnam last November with the backing of local asset management firm VinaCapital.

Validus’s Vietnam expansion marks its second international market foray after it entered Indonesia with its arm Batumbu in May 2019, the company said in a statement.

VinaCapital participated in Validus’s S$20.5 million Series B financing led by Dutch public-private development bank FMO and Temasek-backed Vertex Ventures.

To date, Validus Capital has facilitated over S$300 million in business financing to SMEs in Singapore.

Prime US REIT to acquire US property for $165m  

Singapore-listed Prime US REIT, through KBS Realty Advisors, LLC, has entered into a purchase agreement with GV/HI Park Tower Owner, LLC. to acquire a property in the US for $165.5 million.

Park Tower is a 24-storeyed Class A office tower with mixed-use retail space.

Prime US REIT, managed by KBS US Prime Property Management Pte Ltd, is the third US-focused REIT to be launched on the Singapore Exchange Mainboard in 2019.

Last July, it raised $612 million in a downsized total offering size (previously $705 million) comprising 335.20 million units offered to both the public and placement.

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.