Advance Intelligence Group, a technology startup led by former hedge fund manager Jefferson Chen, topped US$2 billion in valuation after raising more than US$400 million from investors led by SoftBank Vision Fund II and Warburg Pincus.

Northstar, Vision Plus Capital, Gaorong Capital and EDBI also joined the Series D financing round, the company said in a statement on Wednesday. Having boosted its valuation from about US$400 million in 2019, Advance Intelligence is now one of the most valuable startups in Singapore.

The firm was co-founded by Chen, the 39-year-old former Farallon Capital Management executive who headed private investing in Greater China. Before that, he worked at Goldman Sachs Group Inc. where he was involved in initial public offerings and mergers and acquisitions of Asian companies including Baidu Inc.

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