28 Jun '18, 4pm

Singapore sovereign fund Temasek takes stake in tech events firm Unbound

Singapore sovereign fund Temasek takes stake in tech events firm Unbound

Media exits happen, but typically you don’t hear of tech events companies being sold. Well, that’s the case in Singapore where SingEx — a subsidiary of the country’s Temasek sovereign wealth fund — has forked out to buy a majority share in Unbound Innovations , a five-year-old UK-based business that runs technology events worldwide. Details of the transaction were not made public, but TechCrunch understands from a source that SingEx bought a majority share in Unbound in a deal that values the company at £18 million, or around $23.5 million. A second source explained that the deal is akin to a joint venture, which roughly splits the company in half between Unbound and SingEx. In that case, the original investment from SingEx would be around the $12 million mark. Unbound has been around since 2013 but it seems to have struck out with its Innovfest event series, which has foc...

Full article: https://techcrunch.com/2018/06/28/temasek-unbound/

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