Temasek teams up with Swiss firm to launch a US$50M logistics fund in Singapore
Reefknot Investments, a joint venture between Temasek Holdings and Kuehne + Nagel International (a Swiss transport and logistics company), has announced a US$50 million global fund, based in Singapore.
Headed by Managing Director Marc Dragon, Reefknot will seek opportunities in domains at the forefront of the supply chain and logistics industry, including Artificial Intelligence/deeptech, digital logistics, and trade finance. It looks to support the growth of Series A- and Series B-stage startups.
The first fund looks to invest in six to eight high-growth startups, globally.
Reefknot claims its portfolio companies will be able to leverage the business insights of Temasek, and the logistics and supply chain expertise of Kuehne + Nagel.
“Driven by the combination of explosive global technology developments and growth especially in the emerging economies in Asia Pacific, companies across global value chains are increasingly re-evaluating business models as well as investing in technology to optimise capture of demand as well as improve cost and operational efficiencies. Reefknot is committed to shaping this development not just by investing in high-potential startups, but also creating a community of industry experts to support and sustain this growth,” said Dragon.
A Gartner report forecasts that at least 50 per cent of large global companies will be using AI, advanced analytics and IoT in supply chain operations by 2023. This alludes to growing investments in transformational technologies that will be critical to the competitiveness and success of organisations in the dynamic supply chain and logistics space.
Temasek and Kuehne + Nagel had earlier announced that they will accelerate the development of innovative businesses in the supply chain and logistics industry through a focused and long-term oriented investment strategy.
A blueprint for this vision includes the establishment of a Think Tank, which aims to synergise new business models and technologies. It will act as a launchpad for startups seeking to positively create value and impact for the supply chain and logistics industry.
Reefknot is working leading venture ecosystem partners, including EDBI, SGInnovate, Atlantic Bridge, Vertex Ventures, PSA unBoXed, Unilever Foundry and NUS Enterprise.