Steve Rhodes Interviewed in Asia Fund Space

——Editor’s note: This interview was reprinted on etnet.

Interview: Singapore Prime Platform For Israel’s TRENDLINES

Trendlines Chairman & CEO Steve Rhodes

Trendlines Chairman & CEO Steve Rhodes: “We also practice extreme due diligence, only opting to invest in 2% of the 500 or so companies we look at every year.”

Asia Fund Space, 26 July 2016

ISRAEL’S No.1 INCUBATOR of cutting-edge private startups, The Trendlines Group Ltd (SGX: TTGL), naturally at first gave thought to a domestic listing in Tel Aviv, and later called off its own bid to go public on the Toronto bourse before eventually settling on Singapore in November of last year – and the listco has never looked back, an executive told Asia Fund Space.

The Trendlines Group launched its IPO on the Singapore Exchange’s Catalist board on November 26.

The medical and agricultural technology enterprise incubator firm originally planned to offer 75.76 million shares priced at 0.33 sgd per share, with management expecting to raise 25 millionsgd in gross proceeds, being priced at around 1.4 times its price-to-book ratio of net tangible assets value as of June 30.

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“We basically ruled out Nasdaq because though it’s a tech-friendly board, we were simply too small at the time and we couldn’t generate sufficient analyst and financial media coverage, and we also took a look at London and Australia.

“And then we turned to Toronto but ended up pulling the IPO plug there 24 hours away from our scheduled launch because we weren’t confident we could make decent proceeds,” Trendlines Chairman & CEO Mr. Steve Rhodes told Asia Fund Space.

“So we ended up shifting our focus to Asia, and we spent a week in the city state with bourse officials and banks and were very impressed, mainly with the usual attributes including the corruption-free operating environment.

“At the time, I think we can say that the level of scrutiny and due diligence we underwent over that busy week made us a bit crazy, but it solidified our confidence in their vetting process, criteria and standards,” Mr. Rhodes said.

Read the full interview on Asia Fund Space.


Editor’s note: This interview was reprinted on etnet.

Interview: Israel’s Top Incubator TRENDLINES Just Getting Started

Asia Fund Space, 12 July 2016

THE TRENDLINES GROUP LTD (SGX: TTGL), Israel’s top incubator of innovative private enterprises, counts itself lucky to be based in one of the great cradles of civilization, and management believes it has a mature, well-thought-out strategy to replicate its recent successes, a top executive told Asia Fund Space.

In the nine years of running incubators (Trendlines was founded in 2007 and listed in November of last year) the northern Israel-based firm has already notched up 47 portfolio firms with six exits through trade sales in as many years, as well as two public listings.

More impressive were the returns that investors enjoyed, ranging from 3.2X to 8.8X, and in one extraordinary case — 66.9X – with Trendlines in currently in talks for a few more potential exits.

Steve Rhodes: “By staying focused on these two high-growth sectors, we can come to intimately understand the firms in which we invest, as well as the markets in which they operate.”

In an exclusive interview, Trendlines Chairman & CEO Mr. Steve Rhodes told Asia Fund Space that several factors were behind the firm’s nearly decade-long success, with its home country of operations playing a key role.

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Asia Fund Space: With the complexities of having two types of clients, how do marketing and promotion campaigns typically work for an incubator like Trendlines?

Mr. Steve Rhodes: We’ve found it to be a two way street with no set patterns.

Sometimes MNCs find us, or sometimes we promote our more mature portfolio firms to them directly.

In short, when a startup reaches a threshold size and level of success, it’s hard to keep it quiet and unnoticed by those on the lookout for precisely these opportunities.

That being said, there are some differences between exactly when agtech and medtech startups can be effectively pitched to MNCs as the latter typically need longer and more rigid approval processes.

Read the full interview on Asia Fund Space.

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