Vincent Lee is DNA major shareholder

PETALING JAYA: Former Star Publication (M) Bhd executive deputy chairman Tan Sri Vincent Lee Fook Long has emerged as a major shareholder in Digital News Asia (DNA), an independent technology news portal, by investing RM1 million in seed funding through his wholly owned private equity fund IdeaRiverRun (IRR).
In a joint statement yesterday, DNA and IRR said the investment will be used to fund DNA's regional expansion in South-East Asia, further build its team and to develop new products and channels.
Headquartered in Petaling Jaya, DNA expanded to Singapore in October 2014 and will be looking at expansion into Indonesia in the next few months, to be followed with Thailand and the Philippines markets.
DNA was established to act as a catalyst for growth and development of the ICT industry in Southeast Asia by providing insightful and analytical coverage of the ecosystem in these countries.
DNA founder and CEO Karamjit Singh remains DNA's largest single shareholder.