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Trax raised US$125 million last year in a round led by Chinese private equity firm Boyu Capital, and Singapore's sovereign wealth fund GIC came on board as a shareholder later. Trax's valuation should now rank only behind ride-hailing giant Grab's among Singapore-based tech startups. In China, Trax will integrate LenzTech's 110 employees, including 60 research and development staff, with its subsidiary there. Boyu Capital, Trax's second-largest shareholder, was instrumental in helping the company negotiate many aspects of the deal, including the price, the CEO said.
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Singapore commercial property investment jumps 72% to US$1.9b in Q1; bucks regional downtrend: RCASINGAPORE escaped the downtrend that caught every other major national Asia Pacific (Apac) real estate market in the first quarter of this year, with commercial real estate investment jumping 72 per cent year-on-year to US$1.9 billion, data released by Real Capital Analytics (RCA) on Tuesday show. Read more at The Business Times.
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