Singapore’s Linnovate Partners bags $40m funding from SeaTown Holdings
Linnovate Partners, a Singapore-based fintech, has secured a $40 million funding commitment from SeaTown Private Capital Master Fund.
Linnovate Partners lands $40m funding
SeaTown Private Capital Master Fund is overseen by SeaTown Holdings International, an Asia-focused investment enterprise owned by Seviora, the asset management division of Singapore’s state-owned investment firm, Temasek.
Founded in 2016, Linnovate offers asset servicing and fund administration solutions for the investment industry. It says its proprietary, cloud-based platform RAISE offers “all the functions of alternative investing in a single ecosystem”.
The firm claims it administers over $130 billion in assets across more than 600 private equity and venture capital funds.
Linnovate says it is experiencing “rapid growth and increasing demand for its tech-enabled services”, and that the cash injection will enable the firm to further develop its offering and scale its operations.
Commenting on the new funding, Henry Lin, founder and CEO of Linnovate Partners, says the investment will be “instrumental in accelerating our growth trajectory, providing us with the necessary resources to enhance our service offering”.
Meanwhile, SeaTown’s MD, Dickson Loo, adds that his company plans to leverage its “network, resources and expertise” to help Linnovate “scale to greater heights”.
For more information on recent funding announcements, be sure to read our latest In Case You Missed It (ICYMI) funding round-up.
