SINGAPORE (Mar 20): GIC, Singapore's sovereign wealth fund, has invested in the GBP 100 million ($184 million) fundraising by Oxford Nanopore Technologies (ONT).
ONT is the developer of the world’s only portable, scalable, real-time DNA/RNA sequencer, with a customer base spanning over 70 countries.
Other key investors in the capital raising include China Construction Bank International (CCBI), Australian hospitality industry pension fund HostPlus and existing investors.
The funds raised will be used to support a new manufacturing facility, commercial expansion and the development of new innovative products.
Bryan Yeo, Chief Investment Officer of Public Equities at GIC, says, “Oxford Nanopore has a unique business model of providing accessible, real-time DNA analysis technologies that can be applied to pocket-sized or industrial installations. We believe this will continue to drive growth in their user base as well as in new applications for DNA or RNA sequencing. This investment reflects our confidence in the global demand outlook for DNA information across many industries over the long term.”
