Temasek Launches Debt Finance Company with HSBC, Set to Lead $100M Investment in Animoca Brands

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Temasek Holdings has partnered with HSBC Holdings to officially launch Pentagreen Capital, their sustainable infrastructure debt finance company, with a joint commitment of $150 million. The state investor would also lead a $100 million funding round for Hong Kong-based venture capital (VC) firm and games software firm Animoca Brands.

Temasek and HSBC launch infrastructure debt finance company

Singapore-based public investor Temasek Holdings has partnered with HSBC Holdings to officially launch Pentagreen Capital, their sustainable infrastructure debt finance company, according to an announcement on Tuesday.

The partnership, which was first announced last September, will see the two companies make a joint capital investment of $150 million.

Their goal is to accelerate the development of sustainable infrastructure in Asia by providing $1 billion in loans over the next five years and deploying “blended finance at scale over time”.

While Pentagreen Capital will operate independently of its founding partners, both companies will be represented on the board by Stuart Lee, HSBC’s head of global banking operations for South Asia and global head of real assets finance, as well as Connie Chan, Temasek’s Managing Director for Investments and Financial Services.

Pentagreen’s new board will be chaired by Kaikhushuru Nargolwala, who is also chairman of Singapore Pools and investment firm 65 Equity Partners. He also sits on the board of directors of PSA International.

Marat Zapparov, who will serve as CEO, will join Nargolwala on Pentagreen’s board. He brings nearly two decades of experience, including in areas such as infrastructure, energy and real estate asset financing.

Zapparov previously led the International Finance Corporation’s “Upstream” Asia unit and was a senior director of infrastructure at financial solutions provider Clifford Capital in Singapore. He has also held positions with the project finance group HSBC Resources and Energy in Hong Kong as well as the KPMG Global Infrastructure group in London.

“Pentagreen is uniquely positioned to be an alternative provider of debt capital to accelerate the development of sustainable infrastructure in Asia. Our goal is to bridge the gap between traditional financing options from banks and development financiers and catalyze the flow of capital to innovative projects by providing flexible debt financing solutions,” Zapparov said.

Temasek and HSBC are committed to promoting sustainability. For example, the state investor launched GenZero in June with the aim of accelerating decarbonization globally.

Temasek Reportedly Tops Animoca Brands’ $100 Million Round

Temasek Holdings joins a $100 million funding round for Hong Kong-based venture capital firm and games software company Animoca Brands, according to a Bloomberg report.

The deal, which the Singapore public investor would fund through convertible bonds, would add to the $359 million round previously announced by Animoca, led by Liberty City Ventures, Sequoia China and Winklevoss Capital. The previous round had boosted the value of Animoca to $5 billion.

Founded in 2014, Animoca has grown from a small mobile game publisher to Asia’s largest blockchain investor by assembling a portfolio of over 340 finance, gaming and social media companies in less than five years.

The brand is behind titles such as The Sandbox and the REVV racing game ecosystem. He is also an investor in the major NFT OpenSea and the decentralized autonomous organization Yield Guild Games.

The company now plans to create virtual worlds on the blockchain, creating the so-called Web3.

Animoca will mark Temasek’s latest investment in the blockchain space, following his investment in crypto lender Amber Group’s $200 million round. However, Temasek has previously stated that he does not directly invest in any specific cryptocurrency.


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