GBCI Announces USD$100m Smart City Development Fund

Bringing together smart city solutions through mergers and acquisitions aligned with GBCI ecosystem

Singapore, 21 January 2019 – Singapore-based GBCI Ventures (GBCI) has announced a USD$100 million smart city development fund, focusing on innovative technology investments ranging from artificial intelligence (AI), robotics, big data, IoT and virtual reality (VR).

GBCI aims to help cultivate and grow smart cities ecosystem by supporting start-ups in the early or later stages; providing them with knowledge know-how, access to technology, financial investment, mentorship and go-to-market support. One of the key strengths of the fund is the formation of mutual beneficial strategic alliances through mergers and acquisitions and the development of a smart metropolis for the future.

“Our vision is to empower companies that can contribute to the development and building of sustainable smart cities for future generations,” said Douglas Gan, CEO and Co-founder of GBCI. “The dawn of smart city evolution brings economic progress and people are able to enjoy a higher quality of life and better urban services in the ecosystem,” he added.

The fund aims to move beyond the return of investment in technology and finance, by assisting with the engagement of governments, organizations and businesses that come together to develop smart cities.

Smart cities allow citizens to access, in real time, infrastructure services like parking, traffic conditions, electricity and water. The future is in developing complete intelligent systems, for example, safety, transport, environment cleanliness, utilities management and disaster management, to operate optimally and efficiently.

“GBCI strives to give city dwellers a futuristic and an eco-friendly urban lifestyle using AI as the core framework for building smart cities. Urban services are well-connected for better living, even with ubiquitous mobility,” said Lee Changjin, General Partner of GBCI Ventures. “GBCI invests in AI, robotics, big data, IoT and VR and aims to be at the forefront to roll out smart cities,” he added.

About GBCI Ventures (GBCI)

GBCI is the leading smart city solutions provider that applies the root of trust to all industries, from information and communications, transport, real estate and property management, financial services and payment, healthcare to public goods management – endless possibilities to build smart cities.
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