Mandiri Investment Singapore Backs Blockchain Accelerator Program Tribe

Tribe Accelerator today (14/4) announced a new strategic investment from Mandiri Investment Management Singapore, a subsidiary of Bank Mandiri. Korea Investment Partners, Greg Kidd, and Stellar Partners are also involved in the first blockchain accelerator program supported by the Singapore government.

Apart from upgrading the accelerator program, funds will also be used for the development of the Tribe Academy; including to expand its business coverage to embrace more blockchain startups and talents.

In addition, Tribe also informed that the startups participated in its program have raised $70 million in funding, supported by global investors. Currently, it's already 4 batches, some of the startups include DigiX, WhatsHalal, xfers, and others.

"We support cutting-edge blockchain startups from around the world, with a total valuation of over $1 billion, solving problems ranging from food safety to drug delivery [...] We are delighted to welcome our new strategic investors from Indonesia, as well as the United States, South Korea, and Hong Kong to help expand into new markets," Tribe's CEO, Yi Ming Ng said.

Meanwhile, Mandiri Investment's CIO, Kevin Widjaja commented, "Mandiri Investment Management Singapore has a track record of supporting local startups, especially those at the forefront of deep technology. Over the years Tribe has supported several startups using blockchain for a variety of issues. Investing in Tribe enables us to help them expand their global footprint and network."

Mandiri Investment's company structure / Bank Mandiri

Bank Mandiri's digital transformation path