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Singapore's GIC takes stake in Hong Kong data company MioTech

China's Guotai Junan joins funding as startup develops ESG management platform

The Belchatow coal-fired power plant in Poland: MioTech's platform helps client companies manage and report their ESG data.   © Reuters

HONG KONG -- Singaporean sovereign wealth fund GIC and Chinese securities company Guotai Junan International are taking minority stakes in MioTech, a Hong Kong startup that uses artificial intelligence to generate data for asset managers and investors around Asia.

Jason Tu, co-founder and chief executive of MioTech, did not disclose the terms of the deal but said it was multiple times bigger than the previous three funding rounds and that more investment was in the offing. The startup's previous investment round was concluded in November 2020.

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