Business

GIC invests in Japanese firm, Chinese e-platform

Singapore's sovereign wealth fund GIC announced two investments yesterday.

One is an investment in Japan Renewable Energy Corporation (JRE), which marks GIC's first entry into Japan's infrastructure and renewable energy sector. A GIC affiliate has now become a corporate partner in JRE's parent, GS Renewable Holdings GK.

JRE - founded in August 2012 - develops, constructs and operates renewable energy power plants. These include solar, wind and biomass energy power plants located across Japan.

GIC also announced that it had invested in e-platform Meituan-Dianping, which has raised US$4 billion (S$5.4 billion) in its latest financing round led by existing investor Tencent.

GIC participated along with new investor The Priceline Group as well as other existing investors such as Sequoia Capital, Canada Pension Plan Investment Board, Trustbridge Partners and Coatue Management.

Meituan-Dianping will use the funds to strengthen its core business groups and enable continued investment in artificial intelligence-based technology and innovation. The one-stop services e-platform connects 280 million annual active consumers with more than five million annual active local merchants across a wide range of services and products.- THE STRAITS TIMES

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