Temasek Boosts Cybersecurity and Biotech Investments

The Singapore sovereign wealth fund placed wagers on two American companies, cyber-services startup BlueVoyant and biosensors business Glympse Bio.


Cybersecurity and biotech startups got a boost in their latest funding rounds from Singapore sovereign wealth fund Temasek. 

Temase led a $68 million financing round into New York-based cybersecurity company BlueVoyant, the services firm said last week. BlueVoyant plans to expand its third-party cyber risk services, including providing investment portfolio and supply chain defense. 

The sovereign wealth fund was also included in a financing round into Massachusetts-based biotechnology company Glympse Bio, which said last week that it secured $46.7 million from a group of investors led by venture capital fund Section 32. Other investors include Gilead Sciences. 

A Temasek director, Cayce Denton, will join the board of directors at Glympse Bio, where the funding will go toward the development of the startup’s biosensor platform for fibrotic diseases, including infectious illnesses. 

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The sovereign wealth fund has previously made wagers into both biotech and cybersecurity companies. Last month, Temasek led a $250 million private placement into German biotech company BioNTech, which is generating a coronavirus vaccine with pharmaceutical company Pfizer. Temasek is worth about S$313 billion (US$225 billion) in fiscal year 2019. 

Investor interest in the biotech sector has surged around the race for a COVID-19 vaccine. In the past 12 months, iShares Nasdaq Biotechnology ETF surged 38%, while the S&P 500 is up 8.4% year over year. 

In 2018, Temasek and telecommunications company Starhub set up Singapore-based Ensign InfoSecurity to meet global demand for cybersecurity services, which it projected will grow to $2 trillion last year. It’s also an investor in Israeli cybersecurity company Sygnia, as well as venture capital group Team8.

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Working from Home: Maybe Not So Great After All

Polls show white-collar workers want to go back to the office, at least for some of the time.


Ahhhh, the joys of working from home: no commute, no getting dressed up, no distractions from coworkers (except on those Zoom meetings, but you can work on your computer if you’re sneaky enough). But then … There are the burdens of childcare and home schooling, household chores, and the lack of workplace camaraderie.

Meantime, the evidence is growing that a lot of white-collar employees want to get back to the office, maybe not full-time, but for part of their work week.

Turns out that a large majority of people say they wouldn’t want to work from home a lot more, an international survey by research group YouGov. In the US, 42% don’t wish to devote more time to working remotely, versus 28% who would.

This is yet another sign that the allure of working full-time at home may be nearing an end. Another poll, by Global Workplace Analytics, found that most white-collar folks in North America would like to split their time between home and work.

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The question is if the massive move of white-collar work to home will continue, once the virus is gone, or at least the pandemic becomes not as much of a threat. Right now, employers like Facebook, Twitter, Zillow, and Spotify say they will let staffers work remotely as long as they want to. Global Workplace Analytics discovered that most remote workers were productive staying at home.

No doubt, more remote working will save employers money in real estate outlays. Global estimated that companies can lop $11,000 yearly per worker by letting them stay home. US office renting shrank by 34% in the first quarter, to 45 million square feet, versus 2019’s comparable period, said JLL, the global commercial property broker and manager.

Other major companies, such as the investment bank Barclays and food giant Mondelez International, expect to use less office space as more employees work from home. Insurer Nationwide says costs will be significantly lower with so many employees toiling remotely that it intends to return the savings to customers in lower premiums.

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