CapitaLand Limited - OCBC Investment 2016-06-15: Looking to the future with new venture fund

CAPITALAND LIMITED C31.SI

CapitaLand Limited: Looking to the future with new venture fund

CapitaLand (CAPL) announced that it will set up a venture fund (C31 Ventures) to tap global tech start-ups in a move to seek innovation in the real estate space.
We understand that the group will start with a S$15m investment in the Early Stage Venture Fund III (ESVFIII) by Singapore’s National Research Foundation (NRF) in May 2016 for local tech start-ups, and CAPL is eventually prepared to invest up to S$100m as it seeks opportunities outside of Singapore.

C31 Ventures will target Series A to Series C start-up companies that fit into the group’s focus areas of innovation in energy, operations and maintenance; building and construction; design and building materials; real estate funding as well as customer engagement.
Maintain BUY with an unchanged fair value estimate of S$3.68.

Eli Lee OCBC Securities | http://www.ocbcresearch.com/ 2016-06-15

OCBC Securities SGX Stock Analyst Report BUY Maintain BUY 3.68 Same 3.68