Singtel Steps up Investment in Its Venture Arm Innov8 to US$350 Million

Singtel Steps up Investment in Its Venture Arm Innov8 to US$350 Million

by August 2, 2022

Singtel announced its plan to invest a further US$100 million into its corporate venture arm Singtel Innov8, raising its total capital commitment to US$350 million.

Innov8 invests in startups that align with Singtel Group businesses in the areas of 5G, Artificial Intelligence, the digital economy, sustainability, cyber security and emerging technologies.

It operates on an evergreen fund model, re-investing returns from portfolio exits into new investments.

With the capital injection, Innov8 said that it will further expand its portfolio of investments in Southeast Asia, United States, China, Israel and Australia.

Innov8 has invested in over 95 startups since its inception in 2010 and has had over 35 exits. Four of the exits were unicorns – Arista, Ruckus, Jasper, and Shape.

The VC’s fintech portfolio includes digital wealth platform Endowus, BNPL firm FinAccel, digital asset technology group Sygnum and insurtech firm Igloo.

Yuen Kuan Moon

Yuen Kuan Moon

Yuen Kuan Moon, Group Chief Executive Officer of Singtel and Chairman of Singtel Innov8 said,

“This capital infusion is meant for identifying and growing innovative startups with new technologies and capabilities that are synergistic and in lockstep with Singtel’s strategic reset to drive greater improvements in our core operations, accelerate our new growth engines, and place us at the forefront of new and fast-evolving areas.


As we sharpen our business focus, we will recycle our assets and capital into selected growth areas, reshaping our portfolio to better serve our stakeholders and build momentum for the longer term.”

Edgar Hardless

Edgar Hardless

Edgar Hardless, Chief Executive Officer, Singtel Innov8 said,

“Innov8 facilitates access to businesses units across the group’s footprint, evangelises innovative technologies within the group, and supports partnerships with the business units.


This additional funding and our proven approach will help drive further investment deal flow and greater collaboration with the startup ecosystem, unlocking more value for both the group and our portfolio companies.”



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