Temasek's Heliconia invests US$10m in Carousell
TEMASEK unit Heliconia Capital has pumped US$10 million into classifieds platform Carousell, at the same US$1.1 billion valuation of the startup's funding round in September.
Regulatory filings indicate that Heliconia purchased over 577,000 shares of Carousell for US$17.30 each, via its vehicle Orchid 3 Investments VCC, as earlier reported by DealStreetAsia.
Back in September, Carousell announced a US$100 million fundraise led by South Korean private equity firm STIC, taking its previous US$900 million valuation past the much-anticipated US$1 billion mark.
Carousell is said to be considering a public listing in the United States through a merger with a special-purpose acquisition company. Regulatory filings indicate that the Singapore-based company aims to provide its investors with an exit by 2024, at a valuation of at least US$1.13 billion.
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