Singapore innovation fund makes first investment
An innovation fund set up by private equity firm Makara Capital and the Intellectual Property Office of Singapore (IPOS), through its subsidiary IP ValueLab, has made its first investment.
Makara Capital, through the Makara Innovation Fund (MIF), invested S$70 million ($52 million) in MyRepublic, a Singapore-headquartered internet company.
The $1 billion fund was launched in April. The fund focuses on taking IP-strong businesses global.
IP ValueLab, IPOS's enterprise engagement arm, will work closely with the MyRepublic management team.
The subsidiary has also recommended business strategies to increase the commercial value of MyRepublic’s intangible assets.
Kelvin Tan, director of investments at Makara Capital, said: “MIF is proud to announce its partnership with MyRepublic, which demonstrates the fund’s enterprise-aligned investment strategy in action.”
Shau En Tan, executive director of IP ValueLab, added that IP is the most fundamental source of competitive advantage in business.
“MyRepublic clearly appreciates the importance of IP, having built a strong business model around a robust suite of intangible assets and IP, reinforcing their competitive edge with strong brand equity, technical know-how, substantial data assets and scalable digital platforms,” he added.
The fund, in conjunction with IP ValueLab, aims to accelerate MyRepublic’s expansion across Southeast Asia, building on its existing operations in Singapore, Indonesia, Australia and New Zealand.
Malcolm Rodrigues, CEO of MyRepublic, added that the investment will “supercharge” the development of the company’s cloud platform and support its growth plans.
MIF will invest S$30 to S$150 million across 10-15 companies with globally competitive technologies from anywhere in the world, including Singapore.
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