Linnovate Partners, a Singapore-based alternative investment fintech startup, raised $40 million in its current round.
SeaTown Private Capital Master Fund, an Asia-focused investment manager, led the deal. Seviora, Temasek’s asset management, owns SeaTown.
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Linnovate, founded in 2016, provides fund managers with services and technologies. It offers fund administration, investor communications, regulatory compliance, portfolio monitoring, reporting, and technological consultancy. According to the statement, the company’s cloud-based platform RAISE powers these services and delivers all alternative investing capabilities in one ecosystem.
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It will develop market innovations and increase resources to suit client needs with the new financing.
“This investment will be instrumental in accelerating our growth trajectory, providing us with the necessary resources to enhance our service offering, and continue delivering cutting-edge solutions to our clients and the industry itself,” Lin said.
Linnovate has offices in Beijing, Hong Kong, Chengdu, Kuala Lumpur, London, New York, San Francisco, Shanghai, and Shenzhen.
The firm manages approximately 600 private equity and venture capital firms with $130 billion in assets. The startup received funding from SeaTown Private Capital Master Fund.
Singapore-based SeaTown is the round’s main investor. It manages open-end multi-asset and public equity strategies and closed-end private investment strategies.
A completely owned subsidiary of Seviora Holdings and indirectly owned by Temasek Holdings. Foundation Healthcare Holdings Pte Ltd (FHH), a Singapore-based tech-enabled healthcare services ecosystem, was founded last year with SeaTown’s support.
“We are excited to be part of the next phase of Linnovate’s growth story, as we leverage our network, resources, and expertise to help the company scale to greater heights,” said SeaTown managing director Dickson Loo.
About Linnovate
Linnovate Partners, a major asset services provider, innovates alternative investments. Linnovate Partners goes beyond fund administration to provide value-added services and technologies that help asset and fund managers succeed.
