To increase its investment portfolio across Southeast Asia, China, Australia, Israel, and the US, Singapore telco has added another $100 million into its venture capital arm Innov8.
The investment portfolio of the funds will also be diversified across national and international markets, including Australia and Southeast Asia. The most recent capital infusion brings the Singapore carrier’s total investment in Innov8, which was founded in 2010, to $350 million. Since then, the VC arm has invested in over 95 start-ups, including 35 exits, of which four were unicorns, according to a statement from Singtel.
Innov8 also made investments in start-ups that aligned with the group’s business interests, which include 5G, artificial intelligence (AI), sustainability, cybersecurity, the digital economy, and other cutting-edge technologies
Read More: Singtel adds $100M to startup investment arm