Temasek, Singapore based investment firm was among investors in a funding round that valued Amber Group (cryptocurrency-trading platform) at $3 billion
Existing shareholders, including Sequoia China, Pantera Capital and Tiger Global Management, also took part in the US$200 million financing, Singapore-based Amber said in a statement on Tuesday.
Amber Group was founded in 2018 by five former Morgan Stanley traders and had its valuation triple sine mid-2021.
Singapore is one of Asia’s hottest markets for crypto start-ups, and Temasek and its subsidiaries have made several investments in the sector in the past year.
Amber extended its Series B funding round, originally announced in June, specifically to bring Temasek in as an investor, said chief executive Officer Michael Wu.
“They are very strategic, so we made this special effort to bring them in,” Mr Wu said in an interview.