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Religare “not a big fan” of CapitaLand’s $100 mil C31 Ventures fund

Jude Chan Published on Wed, Jun 15, 2016 / 2:49 PM GMT+8

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SINGAPORE (June 15): Religare on Wednesday said it was “not a big fan” of CapitaLand’s setting up of a $100 million venture fund, C31 Ventures, to tap global tech start-ups in its ongoing effort to innovate and build real estate of the future.

“We are not a big fan of this move. Stick to what you do good,” Religare’s Tata Goeyardi said in a sales commentary. “While $100 million is probably not a big amount for CapitaLand in the long-run, but if the purpose of this move is to make money from tech valuations (some are in bubble stages), this is where we are worried most.”

If the intent is not profit from investments, but R&D to enhance products, “why bother investing such a big amount?” Goeyardi questions. “With this announcement, CapitaLand would need to disclose tangible and intangible benefits of its $100 million investments.”