Highlights of the Week: GIC and Temasek
It’s helpful to observe the types of companies and businesses that long-term investors invest their money in.
Of note, investment firm Temasek Holdings has long touted its long investment time horizon.
Temasek’s portfolio stood at S$403 billion as of 31 March 2022 and it has 12 offices across eight countries.
Similarly, the Government Investment Corporation, or GIC, which manages the Singapore government’s reserves, also espouses a long-term philosophy.
Both Temasek and GIC are among a crop of new investors that injected money into Stripe, an Irish-American software-as-a-service (SaaS) company offering financial services.
Stripe had recently raised more than US$6.5 billion in a fundraising exercise that valued the firm at US$50 billion.
The payments company was founded back in 2009 by two Irish brothers, John and Patrick Collision.
Just two years later, Stripe received an investment of US$2 million from a group of investors that included PayPal’s founder Peter Thiel and Tesla’s CEO Elon Musk.
Stripe is seeing healthy traction in garnering customers as more businesses shift online, and counts the likes of Amazon, Salesforce, and Ford Motor as its customers.
In particular, the payments specialist is seeing healthy momentum from start-ups.
An impressive statistic is that Stripe handles more than US$1 billion moving through its platform from 100 businesses.
Three-quarters of this group use Stripe for more than just payments while seven out of 10 use the SaaS company’s platform to manage operations across multiple countries.
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