EDBI, the independent equity investment arm of the Singapore Economic Development Board (EDB), has participated in a US$37 million funding round of Tremor Video, a US-based online video ad network, reported MediaPost on 12th September.
The investment is led by New York City-based W Capital Partners, and other participants include: Keating Capital, Canaan Partners, Draper Fisher Jurvetson Growth, General Catalyst Partners, Meritech Capital Partners, Time Warner and SAP Ventures.
Tremor is ranked the top video ad network in the US, reaching 47.1% of the US population. It turned profitable at the end of 2009, and doubled the size of its network from 2009 to 2010.
EDBI is a first-time investor in Tremor, a digital media company that falls within the venture capital firm’s investment scope. Previously, it invested in ScanScout, another online video ad network that was later acquired by Tremor. It had also funded Smaato, a mobile ad optimizer; ViVOtech, a contactless payment solutions provider; and Xinya Media, a Singapore-based media company.
Besides Internet and digital media, EDBI also invests in clean tech, biomedical sciences, and other tech industries. Other notable investments include Innovalight, which develops solar cell technology, and Silecs International, a Finland-based developer and manufacturer of advanced Siloxane polymers.
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