Temasek

Singapore's state-owned investor Temasek Holdings has bought a 9% stake in the management company of FSI, an Italian private equity firm. The deal marks a further step in Temasek's expansion into European asset management. Business observers are watching what the Singaporean capital presence could mean for FSI's investment strategy and Italy's private equity market.

Vertex Japan, a venture capital firm backed by Singapore state investor Temasek, has invested in Heartbeats, a startup that makes digital trading cards. The deal was reported exclusively by The Wall Street Journal. It signals continued venture interest in digital collectibles even as the broader crypto and NFT market has cooled.