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Here's how Temasek is moving forward with Blockchain and AI

The investment firm is trying to explore the opportunities in these two technologies

November
25, 2018

3 minutes of reading


Investors are not moving away from investing in new emerging technologies. Both blockchain and artificial intelligence are attracting enormous amounts of attention to investment. The recent is the Temasek investment company in Singapore which is creating new groups to explore the opportunities in these two technologies.

As with an internal memo obtained from Bloomberg, the company is creating so-called "experimental pods" to focus on these two areas, which it considers as long-term trends affecting more industries and geographic areas.

The new group will be overseen by Chia Song Hwee, chief operating officer of the Temasek International key management arm.

Temasek's spokesperson stated in an e-mailed response to Bloomberg's questions: "Over the past few years we have expanded our business coverage and geographic footprint.With the evolution of our operating environment, we focus on on staying agile and well positioned to seize opportunities that offer sustainable long-term value. "

The memo also added that Temasek is also creating a new unit of Strategic Initiatives, which seeks greater agility for opportunistic deals that require rapid turnaround and senior level assessment. The unit, which can draw resources from other parts of the company, will be led by Tan Chong Lee, who heads Europe, the Middle East and Africa, as well as the South East Asia.

"As the investment landscape becomes more competitive and complex, we are seeing more situations where we will benefit from the broader collaboration and specialized capabilities of our traditional sectoral approach and market team," Temasek added in the reminder.

The note shows that the company sees Japan, Korea, Singapore, Australia and New Zealand as "commitment markets" in which it will mainly focus on setting up institutional networks.

Past investments

This is not the first time Temasek has shown interest in these two technologies. In April, SenseTime Group Ltd., a leading company in China for the IA, raised USD 600 million in its C Series of loans from Alibaba Group, Temasek Holdings and other investors. With the mission to drive AI innovation to power the future, SenseTime has independently developed a deep learning platform, supercomputing centers and a range of IA technologies such as facial recognition, image recognition, object recognition, text recognition, analysis of medical images, video analysis, autonomous driving and remote sensing.

Another Rokid artificial intelligence startup raised $ 100 million in a series of funding for the B-Series extension, led by Temasek Holdings in January. Rokid, based in Hangzhou, specializes in research and development of Augmented Reality, Artificial Intelligence and Robotics.

Recently, the investment company has also invested in Blockchain Software Company and in the global banking group R3. The R3 company blockchain software company is working with a large ecosystem of over 200 members and partners in various sectors, both public and private, to develop Corda, their open source blockchain platform and Corda Enterprise, a commercial version for business use .

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