Temasek is setting up new units to explore prospects in blockchain, AI technologies

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Singaporean state-run investment firm Temasek Holdings Pte is setting up new units to explore prospects in blockchain and artificial intelligence technologies.

The investment holding company is setting up experimental pods to explore the opportunities in the two domains, which it views as long-term trends having an enormous impact on several geographies and industries.

The new units will be overseen by Chia Song Hwee, COO of key management arm Temasek International Pte.

Chia will work with Lee Theng Kiat, the deputy chairman and CEO of Temasek International Pte, and Dilhan Pillay, the deputy chief executive officer of Temasek International Pte, as the firm’s collective leadership.

In April this year, Temasek took part in a$600 million series C funding round for China’s SenseTime Group Ltd, which is currently the most valuable AI start-up in the world.

In June, Temasek also assisted in leading a series A funding round for UK’s Eigen Technologies, a research-driven AI company specialising in NLP for businesses in finance, law and professional services.

Backed by a consortium of lenders seeking to adopt blockchain technology in their operations, Temasek invested in R3, an enterprise blockchain software firm and distributed database technology company, in the blockchain space.

The holding company is also setting up a new Strategic Initiatives entity with an aim to bring superior agility for deals needing senior-level assessment and fast turnaround.

Tan Chong Lee, the head of Europe, Middle East and Africa as well as South-East Asia operations of Temasek International Pte, will oversee the unit that can draw resources from other units of the holding company.

Temasek has identified Africa, China, Europe, India, the Middle East, North America, South America, and South-east Asia as investment markets where it is actively doing deals and allocating capital.

The holding company views Australia, Japan, Korea, New Zealand, and Singapore as engagement markets where it will primarily focus on institutional network building.

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