JAKARTA (TheInsiderStories) - Tribe Accelerator, Singapore’ first government supported blockchain accelerator, today announced a new strategic investment from Mandiri Investment Management Singapore, a subsidiary of state-owned lender, PT Bank Mandiri Tbk (IDX: BMRI). Other investors included South Korea’ venture capital firm, Korea Investment Partners, and early Twitter, Coinbase and Square investor, Greg Kidd and Hong Kong-based Stellar Partners.
Tribe also announced that its participating startups have raised US$70 million since joining the program and leveraging its ecosystem of global investor partners. Tribe has added Pfizer to its network of global partners, also HSBC, Infineon Technologies, SBI Ven Capital, and others.
Through this new investment, the provider aims to grow both Tribe Accelerator and Tribe Academy, expand into new markets and continue to provide a broad range of support for promising blockchain start-ups and talents from around the world.
Tribe’ startup portfolio consists of Xfers, an Indonesian financial technology (FinTech) company that seeks to improve financial access within Southeast Asian region by being the technology enabled last mile ramps to financial products, with a focus on Singapore and Indonesia.
“We are delighted that our start-ups have raised over US$70 million to date from investors including SGInnovate, Greycroft, SV Ventures, and other global investment firms. We are supporting a range of cutting-edge blockchain startups from around the world, with a total valuation of over $1 Billion” says Tribe CEO, Yi Ming Ng in an official statement released today.
Mandiri Investment’ chief investment officer, Kevin Widjaja, commented, “Over the years Tribe have supported some amazing start-ups using blockchain to solve a range of problems and investing in Tribe allows us to help them expand their footprint and widen their global network.”
Korea Investment Partners has also made its first direct investment in Singapore with Tribe. Tribe joins a pSouth Korean Venture capital firm’ portfolio of global companies that the has invested in, including eToro, KakaoMobility, Naver and GushCloud among others. Startups supported by Tribe have already started solving global challenges.
Through the added support from Indonesia, South Korea, USA, Hong Kong investors, said Ng, Tribe will continue to widen their global reach and drive collaboration across industries and governments to enable more market ready blockchain solutions to global problems.
Written by Editorial Staff, Email: theinsiderstories@gmail.com
