This is an adapted transcript of a keynote speech by GIC Chief Investment Officer for Private Equity, Choo Yong Cheen, delivered at Sequoia’s annual investor conference, PitStop.
Good morning. It is very good to see everybody here today. Thank you for inviting me to speak at this year’s conference and I look forward to learning from everyone here – from Sequoia, fellow investors, and business leaders from all over the world.
I’ll take the time today to share more on how GIC, a multi-asset manager, is thinking about the long-term issues that the world faces today and our investments in emerging markets and technology over the decades.
As a quick introduction, GIC is Singapore’s sovereign wealth fund. We were set up in 1981 to invest the country’s foreign reserves. Today, we invest globally across all major asset classes, from public markets, which includes fixed income and public equities, to private markets, which includes real estate, infrastructure, and private equity. Specifically, our private equity portfolio spans across venture, growth, and buyouts. We invest through funds but also directly in many companies.
We have a long history of investing in technology. Interestingly, GIC’s first overseas office was set up in San Francisco in 1986. And perhaps more interestingly, our relationship with Sequoia began even earlier in 1985. Today, GIC and Sequoia continue to work closely together as they share our vision in partnering with category-creating technology companies across different geographies and across various stages of investments.