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Ex-Hedge Fund Manager’s Startup Hits $2 Billion Value

  • SoftBank, Warburg Pincus lead round of more than $400 million
  • Advance Intelligence targets financial, retail industries
Jefferson Chen
Jefferson ChenSource: Advance Intelligence Group
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Advance Intelligence Group, a technology startup led by former hedge fund manager Jefferson Chen, topped $2 billion in valuation after raising more than $400 million from investors led by SoftBank Vision Fund II and Warburg Pincus.

Northstar, Vision Plus Capital, Gaorong Capital and EDBI also joined the Series D financing round, the company said in a statement on Wednesday. Having boosted its valuation from about $400 million in 2019, Advance Intelligence is now one of the most valuable startups in Singapore.