Temasek-backed blockchain VC firm to start new investment fund: Report
Superscrypt, a blockchain and Web3-focused venture capital firm backed by Singapore’s state-owned investment firm Temasek, is reportedly seeking a $100 million capital raise to establish a new investment fund.
According to Bloomberg, unnamed sources revealed that Superscrypt and fintech firm Republic will be joint partners in the proposed fund, which has not been finalized and is still subject to change.
Temasek made headlines in 2022 after the government-owned firm lost $275 million in the implosion of FTX. One year earlier, in 2021, the firm purchased a 1% stake in FTX for roughly $210 million. Additionally, Temasek acquired a 1.5% minority interest in FTX US — a separate entity — for $65 million.
Following the collapse of FTX, representatives of Temasek said that despite months of scrutinizing the former exchange’s financial statements and probing potential regulatory risks, the firm found no signs of fraud or red flags.
