Crystal Horse Investments makes third exit in 2013, reaps in ten times return on investment

Oct. 16, 2013 - PRLog -- Crystal Horse Investments (CHI), leading technology incubator based in Singapore has just made its exit from Gilcrux Holdings. As the value of the investee has grown significantly, the exit is valued at ten times the initial sum invested.

Gilcrux Holdings (http://www.gilcruxholdings.com), based in Singapore, is South African serial entrepreneur, John Fearon’s investment holding company. Gilcrux holds Fearon’s equity in startups like Dropmysite (http://www.dropmysite.com) (website, database and email backup), ApexPeak (http://www.apexpeak.com) (invoice factoring for SMEs), EatAds (http://www.eatads.com) (marketplace for outdoor advertising) and many more. This exit will be CHI’s third of 2013, after two exits in Malaysia, namely Ibilik (short term accommodation rentals) and Propwall (property search website).

“We are very happy with our 3rd exit this year. Especially the exits are in the 2 countries (Singapore and Malaysia) where we are very active,” says Dr. Chun Dong Chau, Head of Reseach at CHI. “Having said that, all the credits to the entrepreneurs who are doing a good job!”

CHI was the leading investor in Gilcrux Holdings beginning with “Angels Gate”, Channel News Asia’s angel investor reality television show. In 2011, Fearon appeared on the show to raise funds for Dropmysite in front of 4 Angels, prominent veteran investors in Asia.

After a successful pitch, the Angels agreed to invest $250,000 SGD for a 33% stake at a $500,000 SGD valuation. Behind the scenes, CHI was revealed to be the main fund supporting the show. It then made close to $500,000 SGD investment in a combination of Gilcrux, Dropmysite and EatAds. 2 years on, another Gilcrux investor offered to buy CHI’s shares.

“The offer was good and we are still investors in the subsidiaries, so there is still benefit from the upside. Going forward, we prefer to choose which subsidiaries from Gilcrux we invest in,” says Chun.

CHI is still a major stakeholder in many others startups under Gilcrux Holdings. With stakes in Dropmysite, EatAds and Kluje (http://www.kluje.com) (home improvement portal for contractors and homeowners), CHI still holds an important role in Fearon’s startups.

“I really appreciate the assistance that Crystal Horse Investments provided. As the principal investors, they were very helpful and I look forward to their continued support in the other companies we are building,” says Fearon.

Not resting on its laurels with an investment in 34 companies in the last three years over diverse industries, CHI portfolio continues to grow. As these companies keep growing leaps and bounds, it won’t be long before CHI makes another major exit.