Temasek-backed Reefknot Investments launches $50m fund for logistics firms

Reefknot Investments, a Singapore-based joint venture between Temasek and Swiss logistics firm Kuehne and Nagel, has launched a US$50 million global fund for tech companies in the supply chain and logistics sector.

Photo credit: Temasek

The fund looks to invest in six to eight startups globally, with a focus on series A and B opportunities in AI, deep tech, and trade finance, Reefknot said in a statement.

According to a Gartner report, at least 50% of large global companies will be using AI, advanced analytics, and internet of things in supply chain operations by 2023.

“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 reevaluating business models as well as investing in technology to optimize capture of demand as well as improve cost and operational efficiencies,” Marc Dragon, managing director of Reefknot, said.

“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.”

According to a statement, portfolio companies will be able to leverage insights from Temasek, Kuehne and Nagel, and Reefknot’s partners, such as EDBI, SGInnovate, Vertex Ventures, Unilever Foundry, and NUS Enterprise, among others.

Temasek and Kuehne and Nagel had earlier announced their commitment to develop innovative businesses in the supply chain and logistics sector. Their strategy includes the formation of a think tank for which they will collaborate with industry leaders and government bodies.