We recently had the opportunity to catch up with the team that launched the fund, to learn more about its background and what investors can look forward to within it.Tell us about the Arena Fund established in 2021 in Singapore and its structure as a Public Equity Fund?
With the skies reopening after two years of pandemic-induced “hiatus”, the MICE industry is now ready to take flight and cater to the pent-up demand for face-to-face interactions. Lastly, the MICE industry is still a widely fragmented industry, presenting an opportunity for consolidation in order to seek synergies and economies of scale. This can be witnessed from the active consolidation by Private Equity over recent years.
Taking a look at the revenue levels of the top 10 MICE-related companies in 2019 and 2021, one will be able to notice that the revenues have dwindled comparatively by 50 per cent or more. During this period, many of these MICE-related companies have also taken the opportune time to review their business structure and implemented cost-cutting measures and pivoted to new business revenues, strengthening their balance sheet and consolidating their position to make a concerted comeback.
While it is true that virtual/digital meetings can provide their own set of benefits such as eliminating geographical distance and the ability to hold large meetings, in-person meetings hold an intrinsic and intangible value when it comes to building chemistry, fostering networking and eliminating distractions.
When selecting MICE-related companies in which to invest, what is your vision and what are some measurement tools you have put in place?
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