The investing arm of the Economic Development Board of Singapore, EDBI, has joined the US-based market intelligence and search platform, AlphaSense's roster of investors, making an undisclosed strategic investment.
The announcement comes shortly after AlphaSense opened a new regional hub in Singapore in July 2023. The platform hired Mark Leadercramer as the APAC regional director.
AlphaSense's AI-based technology is geared to deliver insights from public and private content, including equity research, company filings, event transcripts, expert calls, news, trade journals, and clients' own research content. Its customer base includes financial institutions as well as enterprises.
EDBI's investment is part of the US$150 million (S$201 million) Series E funding round announced in September 2023. It was led by the Bond Capital with existing investors CapitalG and Goldman Sachs.
The round valued AlphaSense at US$2.5 billion.
EDBI’s partner of investments, Charmaine Kng, said this partnership aims to attract innovative tech companies that enhance business capabilities in Singapore and across the region, contributing to the nation’s digital transformation and improving workforce productivity.
