Daily Briefing: PE firm Xander Investment buys office park for $130m; Proptech firm UrbanAgents raises $2m seed round

And government-backed LongHash first startups collectively raise $9.7m in Q1.

From DealStreetAsia:

Singapore’s Xander Investment Management on Thursday said it has acquired Weikfield IT Citi Info Park, an office park in Pune, for $178.93m (US$130m) as global investors deepen their presence in India’s expanding commercial office sector.

Xander has bought the 1.1 million sqft office park from private equity firm New Vernon Capital, which counts Maersk, WNS, Whirlpool, Nihilent and Tavisca Solutions among its tenants.

Xander Investment is the private equity real estate arm of The Xander Group, a global investment firm.

The transaction reaffirms a surge in interest among global institutional investors in acquiring office assets across India to capitalize on a steady performance by the commercial office sector.

Read more here.

From iCompareLoan:

UrbanAgents, a referral proptech firm that connects home sellers to a curated list of agents from various real estate agencies, has raised a $2m seed round from FarSight Capital, APAC Realty and angel investors.

With this funding, the startup hopes to use AI to set commission guide for home sellers connecting to top agents in Singapore. In general, the referral proptech firm only enrolls licensed agents deemed to be within the top 5% cohort based on past transaction and listing history data.

One of the services offered is UrbanZoon. In this service, which is currently available for HDB and Condo homeowners, the “Target Price” will be pegged to the home’s Zoom Value, which is calculated based on an AI model with inputs such as recent transactions, relevant listings and features specific to the unit as provided by the home seller.

Read more here.

From DealStreetAsia:

Singapore government-backed global blockchain incubator LongHash said its first cohort of startups have garnered a total of $13.4m (US$9.7m) between January and March this year. 

LongHash’s 12-week program programme was concluded after a global demo tour across Singapore, Shanghai, and Berlin. As many as five startups participated in it from Singapore, Taiwan and Germany. These include names such as Poseidon Network, T-RECs.ai, AlphaWallet, Keyless, and Lition.

LongHash is currently running the second batch that started in June and is slated to end this end. For its second batch, LongHash has tied up with Parity Technologies to support Polkadot, a blockchain protocol, which allows independent blockchain networks to exchange information and be protected with shared security.

Read more here.

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

This got the nod from industry players at Ubisoft Singapore x Gamescom.
This is due to the planned reopening of Singapore’s borders and economy.
This is according to a joint report by SNEF & Kincentric.
DBS expects 150 talents to take part in this initiative.
The country ranked first in innovation input and investment sub-indeces.
Singtel showed the most growth.
Its net promoter score rose 35% in 2021 from end-2020.
This is the first time that the insurance industry has taken the lead against banks.
The initiative is directed towards the promotion of intergenerational dialogue.
This is the result of CapitaLand Limited’s restructuring efforts.
MOM, MND, and MOH were in charge of developing the standards.
Two nightlife establishments were revoked of their food licenses.
Mapletree companies showed the most growth.