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Temasek’s 65 Equity Partners makes $106m investment in Cityneon

65 Equity Partners, an investment firm wholly-owned by Temasek,  has invested $106 million (SGD150m) in Singapore-based immersive entertainment firm Cityneon Holdings, according to a report by Deal Street Asia.

Cityneon has previously raised SGD235 million round in a funding round in April 2021, which gave the company a valuation of over SGD1 billion.

Existing investors in the company include CITIC Capital, Pavilion Capital, EDBI, Qatar’s Doha Venture Capital and SeaTown Holdings International.

Cityneon is intending house the additional funding to expand into new markets, acquire new IPs, build up technological capabilities, and shore up its balance sheet.

The company was taken private in 2019 through a SGD318 million offer by a consortium led by Tan and individual investor Johnson Ko.

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