The US investment bank is leading a $US56 million ($70m) investment in Singapore’s Antuit Holdings to help it grow and acquire rivals in Asia’s rapidly growing data analytics market, according to one insider.
Zodius Capital, an existing investor in Antuit, is also participating in the latest fundraising, the person said.
The global market for big data is expanding rapidly as companies like Antuit try to turn data from social media and mobile phone applications into sales traffic and new customers.
Big data analytics requires complex software that evaluates a web of interconnected pieces of information from a multitude of sources to create a profile of a customer or solve a business problem.
The market is lucrative and still in its early growth. Silicon Valley big data analytics firm Palantir Technologies, which sells big data software to the US government and Wall Street, raised a round of funding last week that valued it at $US15 billion, making it the third most valuable company backed by venture capitalists in the world after Chinese smartphone maker Xiaomi and Uber Technologies.
Antuit and its backers hope they can seize a piece of the market by building a foothold in Asia. Goldman’s funding should help them snatch up smaller competitors and engineering talent before US rivals are able to expand their reach into the region.
As part of the deal, Goldman’s Asia co-head of private equity, Ankur Sahu, will join the company’s board of directors.
Antuit’s niche in the big data market is its ability to link large global clients with inexpensive engineers and data analysts in Asia, particularly India.
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