Temasek-linked SeaTown injects $40m into SG fintech firm Linnovate Partners

Photo credit: Linnovate Partners

Private equity and venture capital firms are increasingly going global, investing in companies across multiple countries, or even continents. But much of the back-end administrative work is still done either in a more laborious, manual way, or in a way that requires several different platforms or tools.

That’s the premise behind Singapore-based Linnovate Partners, which bills itself as a premium servicing firm for alternative assets. The firm uses technology to help its institutional clients manage fund administration, investor relations, and regulatory compliance, among other things.

Linnovate Partners has recently closed a US$40 million funding round from SeaTown Holdings, a Temasek affiliate, through its SeaTown Private Capital Master Fund. The fintech firm will use the money to scale operations, among other things.

Founded in 2016 by Henry Lin, Linnovate Partners also offers portfolio monitoring and reporting services. They are supported by the company’s cloud-based platform called Raise, which consolidates all the functions needed for alternative investing into one system.

In addition to Singapore, the company has multiple offices globally, including in London, San Francisco, and Shanghai, according to its website.

Currently, Linnovate Partners administers over US$130 billion in assets for its clients, which number more than 600 private equity and VC funds. Prior to founding the firm, Lin was a managing director of France-based alternative investment management firm eFront, which was acquired by BlackRock in 2019.

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