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Report: Heliconia Capital acquires minority stake in Secretlab

Temasek Holdings (Pte.) Ltd. unit Heliconia Capital Management Pte. Ltd. bought a minority interest in Secretlab in a deal that values the Singapore-based manufacturer of chairs for electronic game players at between S$200 million and S$300 million, Bloomberg News reported, citing a person with knowledge of the matter.

A statement from Secretlab reportedly said the Heliconia funding will aid in the company's research and development efforts, procurement, talent acquisition and global partnerships.

Secretlab and Heliconia CEO Derek Lau did not immediately respond to a request for comment on the size of the investment and company sales, according to Bloomberg.

As of Aug. 13, US$1 was equivalent to S$1.38.