Gordian Capital a Singapore-based fund management platform is expanding into Dubai while food surplus platform TreeDots shuts its Malaysia unit.
Gordian Capital eyes Dubai expansion
Singapore-based fund management platform Gordian Capital has announced plans to expand into Dubai as part of its international growth strategy, subject to regulatory approval.
Gordian plans to offer similar services to global players entering the Middle East as it already does in Singapore, Hong Kong, and Tokyo, per the announcement.
The firm claims to be Asia’s only fully licensed institutional platform operating in those three key financial centers and is fully licensed and regulated with MAS (Singapore), SEC (USA), SFC (Hong Kong), FSA (Japan), among others.
Established in 2004, Gordian Capital provides fund platform services, handling business and operational management for investment professionals across private equity, venture capital, hedge funds, and other alternative strategies.
Gordian Capital initially launched its first operating subsidiary in Singapore in 2005. The firm, which has launched more than 115 funds globally, said around 96% of its $17 billion assets under management are from institutional investors.
Last year, Gordian Capital launched the Align Partners Korea Fund, a successor to its previous Align Partners Fund I. The fund specialises in investments in listed Korean equities.
Singapore’s TreeDots shuts Malaysia unit: Report
Singapore-based food surplus platform TreeDots has shut down its MyTree B2B distribution unit in Malaysia, citing unsustainable operations amid economic challenges, Tech in Asia reported.
The closure took effect on June 5. TreeDots’ software-as-a-service and AI businesses in Malaysia will remain operational.
TreeDots, backed by SEEDS Capital, East Ventures, Active Fund, and others, did not confirm the number of employees laid off, but co-founder Tylor Jong was quoted as saying that the company is helping with career transitions for over 70% of impacted staff.
Founded in 2017, TreeDots also operates in Singapore and Indonesia, offering cold chain logistics for temperature-sensitive food. It has raised over $11 million from investors.
The company reported $4.4 million in losses in 2023 on $32.4 million in revenue, as against $6.1 million in losses and $20.65 million in revenue in 2022.
The Malaysia exit follows TreeDots’ layoffs in March 2024 and its 2022 shutdown of a group-buying product.
