Spotlighting the rising stars in Temasek’s galaxy

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Hi readers,

There is a two-story mango tree right outside the balcony of my apartment that always draws my attention. I am often captivated by the vast ecosystem within this tree.

While one branch might have a colony of ants living in it, another has a red-whiskered bulbul couple raising two young hatchlings.

And then there are the two energetic squirrels – who I named Simon and Garfunkel – that run all over the tree picking fights with a crow or a pigeon who decided to perch on a branch next to where their nest is within the trunk.

This vibrant tree has many stories in each branch, and I always discover new branches and new inhabitants living there.

When I started working on my Temasek piece a year ago, I didn’t think I would still be finding new branches and shoots from it. But every time I update it, I find several other companies that have sprouted from its trunk.

This time around, I found out that the number of companies under Temasek has grown by over 5x in the last three years to 49, with 15 of them being startups. This is up from just nine companies, with five startups launched, when we began chronicling Temasek’s journey into launching its own startups in 2020.

I am sure that there are more stories that are under this Temasek tree for me to discover as it keeps growing.

— Collin Furtado, journalist at Tech in Asia

Top stories this week

Image credit: Timmy Loen

1️. Mapping Temasek’s role in the startup space (updated)
The Singapore-based investor has launched 49 companies, including 19 investment firms and a venture-building arm, in its quest for disruptive businesses.

2. SEA’s digital banking map unveils bright spot for investors
Despite competition intensifying, incumbent players like Bank Jago and Bank Raya reported strong financial results this year.

3. Now profitable, Zalora bets on B2B, subscriptions for growth
Zalora may not be as popular as Lazada, Shopee, or TiktTok Shop in Southeast Asia, but the ecommerce marketplace was profitable in 2022.

By popular demand – RFM returns to HCMC!