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Singapore’s first government-supported blockchain platform attracts strategic investment

SINGAPORE – Tribe Accelerator, Singapore’s first government-supported blockchain accelerator, announced a new strategic investment from Mandiri Investment Management Singapore (“MIMS”), a subsidiary of Indonesia state-owned bank – Bank Mandiri. Other investors include South Korea’s leading venture capital firm, with US$3 billion asset under management, Korea Investment Partners (“KIP”) – the first direct investment for the venture capital firm in Singapore, and early Twitter, Coinbase and Square investor, Greg Kidd and Hong Kong-based Stellar Partners.

Tribe also announced that its participating startups have raised US$70 million since joining the program and leveraging its ecosystem of global investor partners. Tribe has added Pfizer to its network of global partners, alongside the likes of HSBC, Infineon Technologies, SBI Ven Capital, and others.

Through this new investment, Tribe aims to grow both Tribe Accelerator and Tribe Academy, expand into new markets and continue to provide a broad range of support for promising Blockchain start-ups and talents from around the world.

“We are pleased to welcome our new strategic investors from Indonesia as well as the US, Korea and Hong Kong to help us expand into new markets and continue to identify and support tomorrow’s leading Blockchain start-ups,” says Tribe chief executive officer, Yi Ming Ng, continuing “We are supporting a range of cutting-edge blockchain start-ups from around the world, with a total valuation of over USD$1 billion, that are solving global problems from food security to medicine deliveries. With our education efforts we are happy to bridge the talent gap in the Blockchain space.”

Mandiri Investment Management Singapore, chief investment officer Kevin Widjaja comments “Mandiri Investment Management Singapore has a track record of supporting local start-ups, especially those at the forefront of the deep technology space. Over the years Tribe has supported some amazing start-ups using Blockchain to solve a range of problems and investing in Tribe allows us to help them expand their footprint and widen their global network.”

Tribe’s partners provide a wide range of support to their start-ups, ranging from technical expertise to resources and access to their own networks. Through the added support from Indonesia, South Korea, USA, Hong Kong investors, Tribe will continue to widen their global reach and drive collaboration across industries and governments to enable more market-ready blockchain solutions to global problems.



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