Daily Briefing: ARA sells stake in Cache Logistics Trust; FengHe Group leads $13.6 funding in sports tech firm PlayerMaker

And cloud-based corporate service provider Sleek clinched $6.78m funding.

From DealStreetAsia:

ARA Asset Management Ltd has sold its entire stake in Cache Logistics Trust, a Singapore-listed real estate investment trust (REIT), to Logos Property for an undisclosed amount, according to a company disclosure.

Cache Logistics Trust is managed by ARA Trust Management and the transaction will see ARA transferring its entire holding in both Cache and the manager to Logos, although ARA will retain control of the manager through Logos.

Daniel Cerf, CEO of ARA Trust Management Ltd, said in the disclosure that the transaction aims to “establish a best-in-class logistics real estate development and investment management partnership in the Asia Pacific region.”

The transaction, however, needs to satisfy certain conditions, including regulatory approvals, before it can be completed, Cerf said. Financial details of the deal and the stake involved were not disclosed but a Mingtiandi report said ARA Asset Management has agreed to sell its entire 10 per cent stake in Cache.

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From Reuters:

Singapore-based FengHe Group led a funding round of athlete performance analysis company PlayerMaker that raised $13.56m (US$10m).

Using players’ footwear to attach sensors, the Israeli company’s device tracks and analyses athletes’ motion against a database of football movements. The data generated helps improve coaches’ decision-making processes in relation to player performance optimization, talent identification and injury prevention, the company said.

Following its launch last year, PlayerMaker is used by clubs such as Manchester City, Crystal Palace and Argentina’s Olympic national team. The new funds will be used to fuel global growth.

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From DealStreetAsia:

Singapore’s cloud-based corporate service provider Sleek has raised $6.78m (US$5m) in an extended seed round co-led by Asia-focused private investment company MI8, according to an announcement.

The financing, which was joined by private investors Pierre Lorinet and Fabio Blom, will help the company expand its tech team and build new features for clients. Lorinet, a non-executive director at Trafigura Group Pte Ltd and Puma Energy Holdings Pte Ltd, will join Sleek’s board after the investment.

Other notable investors of Sleek include Martin Crawford, former group CEO of corporate services giant Vistra; Olivier Gerhardt, founder of Wavecell; Eric Barbier, founder of TransferTo; Olivier Legrand, Asia MD at LinkedIn; and Stem Financial, a Hong Kong-based private investment firm.

Founded in 2017 by Julien Labruyere and Adrien Barthel, Sleek helps companies get incorporated in Singapore and Hong Kong and manage their governance, accounting and tax matters.

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