Asia Digest: Tsangs Group, Textor to jointly invest globally; Transparently.AI nabs funding

Asia Digest: Tsangs Group, Textor to jointly invest globally; Transparently.AI nabs funding

Photo: Dmitry Demidko/ Unsplash.com

Hong Kong-based family office Tsangs Group and the family office of John Textor are partnering to invest globally while global investment firm Franklin Templeton has invested in Singapore-based startup Transparently.AI.

Tsangs Group, Textor’s family office to invest globally

Hong Kong-based family office Tsangs Group announced that it has partnered with the family office of entertainment technology pioneer John Textor to jointly invest globally.

The partnership will focus on entertainment, sports, and media, which are the focus sectors of Textor, being a professional football club owner and investor in disruptive technologies for media, entertainment, and the internet.

Per the announcement, Patrick Tsang, chairman of Tsangs Group, will act as a strategic advisor to Textor for the Middle East and Southeast Asia. Last year, Tsangs Group opened an office in Singapore and set up an office in Dubai for expansion into the Middle East.

This is not the first time that Tsangs Group and the Textor family office have collaborated. In 2020, the two partnered to develop FaceBank Group, which acquired fuboTV Inc. The combined companies tapped the market with their IPO later that same year.

Franklin Templeton invests in SG regtech startup Transparently.AI

Global investment firm Franklin Templeton has made an undisclosed investment in Singapore-based regtech startup Transparently.AI.

The investment was part of Transparently.AI’s $3-million pre-Series A funding round that brought its valuation to around $20 million. The startup helps companies fight accounting manipulation and fraud.

Transparently.AI, founded in 2021, said its platform, built for financial analysts, portfolio managers, and regulators, provides highly accurate accounting risk scores for tens of thousands of organizations across the globe.

It claims to have AI tools to identify corporate accounting manipulation years ahead of the market and within seconds.

The regtech startup raised $1 million in its seed funding round in 2022, half of which came from New Zealand’s Move Asset Management.

Edited by: Padma Priya

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