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IP-driven Innovation Fund supported by IPOS announces first investment of S$70 million in regional TelcoTech player

IP-driven Innovation Fund supported by IPOS announces first investment of S$70 million in regional TelcoTech player

Makara Innovation Fund (MIF
or the Fund), a S$1 billion private equity fund focused on helping businesses with
strong IP (Intellectual Property) go global, today announced its first
investment of S$70 million in regional TelcoTech player, MyRepublic.

MIF was launched in August 2017 in collaboration with
the Intellectual
Property Office of Singapore
 (IPOS),
with the aim of furthering IP management and commercialisation in qualifying
portfolio companies. The Fund’s mandate is to invest in late-stage start-ups
and growth-stage companies with globally competitive technology and solutions
to augment enterprise value by fostering scale up and cross-border growth
strategies. To accelerate growth, the Fund employs buy-and-build strategies and
a “from Singapore and through Singapore” approach, leveraging the
city-state as a strategic hub from where companies can regionalise and scale
up.

The investment decision was supported by the Fund’s positive
assessment of the company’s compelling growth fundamentals and innovative
business model, and IP ValueLab’s
due diligence evaluation of MyRepublic’s strong IP portfolio.

IP ValueLab is a wholly owned subsidiary and the enterprise
engagement arm of IPOS, offering IP management consultancy services to
businesses across a wide range of industries. It is a strategic partner to the Fund offering IP evaluation and
strategy advice. 

IP ValueLab conducted an intangible asset due diligence on
MyRepublic to support MIF’s investment decision. Working closely with the
MyRepublic management team, IP ValueLab has recommended business strategies to
increase the commercial value of MyRepublic’s intangible assets.

The investment
proceeds will be used to extend MyRepublic’s geographical footprint as well as
scale up its product and service offering.  MIF’s investment capital and enterprise
development capabilities, in conjunction with IP ValueLab’s IP expertise, aim
to accelerate MyRepublic’s expansion across South East Asia’s lucrative
markets, building on its existing core geographies of operation in Singapore,
Indonesia, Australia, and New Zealand.

Mr. Kelvin Tan,
Director of Investments at Makara Capital, said, “MIF is proud to
announce its partnership with MyRepublic, which demonstrates the Fund’s
enterprise-aligned investment strategy in action. MyRepublic's unique lean
operating model positions it at the vanguard of the telecommunications sector’s
digital transformation in one of the most exciting growth regions of the world.
The Fund’s investment capital aims to enable the company’s growth ambitions,
with a focus on IP management and monetisation, scaling and expansion.”

Mr. Shau En Tan,
Executive Director of IP ValueLab, commented, “In today’s global
economy, IP is the most fundamental source of competitive advantage in
business. IP ValueLab helps innovation-driven enterprises to strategically
manage their IP resources to yield new areas of business and profit, and gain a
sustainable competitive edge with a robust IP strategy. Home-grown TelcoTech
player, MyRepublic clearly appreciates the importance of IP, having built a strong
business model around a robust suite of intangible assets and IP, reinforcing
their competitive edge with strong brand equity, technical know-how,
substantial data assets and scalable digital platforms.”

Mr. Malcolm
Rodrigues, CEO of MyRepublic, commented: “We are extremely excited to
have secured a significant investment commitment from MIF. In addition to
providing growth-stage capital, MIF has proven to be a valuable partner that
recognises MyRepublic as an industry trailblazer, reinventing the economics of
telecommunications. We have a deep appreciation of MIF’s differentiated
investment approach, and share its vision for scaling up dynamic enterprises
and supporting internationalisation.”

“We have been developing our proprietary cloud platform for
the past five years, which has enabled us to deploy a single operational
platform across countries and break industry records by turning EBITDA-positive
within two years of entering each new market. The investment will supercharge
the platform’s development, support our aggressive growth path to expand our
regional footprint within a record-breaking timeframe and deliver an even wider
range of services. Concurrently, our engagement with IP ValueLab has proven
most beneficial, and we are now working closely with MIF to implement
recommended IP monetisation strategies in view of further value creation for
our investors,” added Mr. Rodrigues.

PARTNER

Qlik’s vision is a data-literate world, where everyone can use data and analytics to improve decision-making and solve their most challenging problems. A private company, Qlik offers real-time data integration and analytics solutions, powered by Qlik Cloud, to close the gaps between data, insights and action. By transforming data into Active Intelligence, businesses can drive better decisions, improve revenue and profitability, and optimize customer relationships. Qlik serves more than 38,000 active customers in over 100 countries.

PARTNER

CTC Global Singapore, a premier end-to-end IT solutions provider, is a fully owned subsidiary of ITOCHU Techno-Solutions Corporation (CTC) and ITOCHU Corporation.

Since 1972, CTC has established itself as one of the country’s top IT solutions providers. With 50 years of experience, headed by an experienced management team and staffed by over 200 qualified IT professionals, we support organizations with integrated IT solutions expertise in Autonomous IT, Cyber Security, Digital Transformation, Enterprise Cloud Infrastructure, Workplace Modernization and Professional Services.

Well-known for our strengths in system integration and consultation, CTC Global proves to be the preferred IT outsourcing destination for organizations all over Singapore today.

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Planview has one mission: to build the future of connected work. Our solutions enable organizations to connect the business from ideas to impact, empowering companies to accelerate the achievement of what matters most. Planview’s full spectrum of Portfolio Management and Work Management solutions creates an organizational focus on the strategic outcomes that matter and empowers teams to deliver their best work, no matter how they work. The comprehensive Planview platform and enterprise success model enables customers to deliver innovative, competitive products, services, and customer experiences. Headquartered in Austin, Texas, with locations around the world, Planview has more than 1,300 employees supporting 4,500 customers and 2.6 million users worldwide. For more information, visit www.planview.com.

SUPPORTING ORGANISATION

SIRIM is a premier industrial research and technology organisation in Malaysia, wholly-owned by the Minister​ of Finance Incorporated. With over forty years of experience and expertise, SIRIM is mandated as the machinery for research and technology development, and the national champion of quality. SIRIM has always played a major role in the development of the country’s private sector. By tapping into our expertise and knowledge base, we focus on developing new technologies and improvements in the manufacturing, technology and services sectors. We nurture Small Medium Enterprises (SME) growth with solutions for technology penetration and upgrading, making it an ideal technology partner for SMEs.

PARTNER

HashiCorp provides infrastructure automation software for multi-cloud environments, enabling enterprises to unlock a common cloud operating model to provision, secure, connect, and run any application on any infrastructure. HashiCorp tools allow organizations to deliver applications faster by helping enterprises transition from manual processes and ITIL practices to self-service automation and DevOps practices. 

PARTNER

IBM is a leading global hybrid cloud and AI, and business services provider. We help clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. Nearly 3,000 government and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM’s hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently and securely. IBM’s breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and business services deliver open and flexible options to our clients. All of this is backed by IBM’s legendary commitment to trust, transparency, responsibility, inclusivity and service.

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