GIC

The banking and financial services (BFS) sector is likely to drag down overall growth in tech spending next year, due to inflation, a slowdown in major geographies like the United States and Europe, and increased insourcing by financial institutions, experts said. The BFS segment will see flat to negative growth through most of 2023, said Phil Fersht, chief executive at IT research firm HfS. “Some banks are shrinking spending due to the huge slowdown in the mortgage sector and the escalating recession in Europe is…

WASHINGTON—The Federal Trade Commission is investigating one of the country’s largest anesthesiology providers, U.S. Anesthesia Partners, over whether it has amassed too much power in some regional markets through acquisitions, according to people familiar with the matter.USAP has 4,500 anesthesia providers in nine states, including Texas, Colorado and Florida. The company, founded in 2012 by private-equity firm Welsh, Carson, Anderson & Stowe, has grown by acquiring smaller anesthesiology groups and rolling them up…

Image Source : CRED CRED Cred, a credit card bill payment platform has launched the 'Scan & pay', a UPI payment experience for the app users. The new feature will enable the users to make UPI payments from their bank accounts which are linked to the CRED app, by scanning any QR code. Kunal Shah, Founder of Cred said, "The all-new Cred pay experience builds on top of…

Skyroot Aerospace on Friday revealed that it had raised $51 millon (roughly Rs. 400 crore) from a Singapore-based investor, according to a report. The startup will reportedly use the funding to build the country's first private space launch vehicles (SLV), and accelerate the firm's plans to launch heavy payloads into low-Earth orbit. It is looking to start commercial satellite launches by mid-2023, and has a data and expertise sharing agreement with the Indian Space Research Organisation (ISRO), as per a report. The …

One of the world’s biggest sovereign-wealth funds and its U.S. partner are buying a majority stake in 53 suburban office buildings in a deal valuing the properties at $1.1 billion, a major bet that remote work will boost demand for workplaces close to residential areas. Singapore’s GIC Pte. Ltd. is investing in the buildings alongside Workspace Property Trust, a privately held commercial real-estate firm based in Boca Raton, Fla., according to a person familiar with the matter. The deal…

Chris Metinko / Crunchbase News: Crypto exchange FalconX, which focuses on institutions, has raised a $150M Series D led by GIC and B Capital at an $8B valuation, up from $3.75B in August 2021 — Despite a rocky couple of months for crypto, San Francisco-based FalconX locked up a $150 million Series D and more than doubled its valuation from just 10 months ago. Chris Metinko / Crunchbase News: Crypto exchange FalconX, which focuses on institutions, has raised a $150M Series D led by GIC and B…

Budi Sutrisno / Tech in Asia: Jakarta-based Bibit, which offers robo-advisor services to help millennial users invest in mutual funds based on their risk profiles, raises $80M+ led by GIC — Indonesia-based investment app Bibit has raised over US$80 million in a funding round led by GIC, with participation from Prosus Ventures and other existing investors. Budi Sutrisno / Tech in Asia: Jakarta-based Bibit, which offers robo-advisor services to help millennial users invest in mutual funds based on…