Singapore's MyRepublic receives $60m capital injection

The company will use the new capital to expand its cloud-based broadband and mobile platform TelcoTech, which is designed to automate telecom operations and reduce overhead. MyRepublic is currently present in Singapore, Indonesia, New Zealand and Australia, and is planning an IPO in Hong Kong within the next two years.

The company was founded in 2011 to become Singapore’s fourth telecom operator, offering broadband internet and related services. It plans to expand its telecom service offerings to include mobile internet service and TV, and is also looking for opportunities to enter additional markets including energy, insurance and big data.

The latest round brings MyRepublic’s total capital raised to over $150 million. The company received a S$70 million ($52 million) commitment last year from Makara Innovation Fund, a Singapore government-backed vehicle that focuses on intellectual property-driven businesses. Additional investments include a S$23 million round in 2015 led by Brunei telecom operator DST and S$30 million in 2014 from Sunshine Network, a telecom arm of Indonesia’s Sinar Mas, and French telecom entrepreneur Xavier Niel.

“In MyRepublic we have identified one of the region’s most disruptive TMT companies,” said Andrew Hartley, the Singapore head for CLSA, in a statement. “As the company expands its broadband and mobile platforms across Asia, we believe it’s uniquely positioned to take advantage of the digital transformation accelerating the telco sector.”

CLSA CP, which has over $4 billion in assets under management, provides growth and expansion capital to entrepreneur and family-owned businesses in India, China, and Southeast Asia.

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• Topics
• Southeast Asia
• Infrastructure
• Technology
• Expansion
• Singapore
• CLSA Capital Partners
• Growth capital