Teleport, the logistics unit of Malaysia’s Capital A, said it will raise $50 million in pre-IPO growth capital from funds managed by alternative investment firm HPS Investment Partners through the issuance of redeemable convertible perpetual securities.
The deal values Teleport at $500 million pre-money, with proceeds to be used to strengthen its balance sheet and fund network expansion ahead of a planned public listing.
Teleport said it has raised about $109 million since its inception in 2018, supported by Capital A and the AirAsia airline group as it built out its logistics platform.
The company said the latest valuation from a global institutional investor validates the commercial viability of its integrated cross-border e-commerce logistics model in Southeast Asia, where it positions itself as a specialist operating at scale.
Teleport said its “asset-light” approach relies on partnerships and airline belly-hold capacity to move parcels and cargo across borders.
Its network has direct point-to-point connections reaching more than 290 cities across 80 countries and works with over 50 partner airlines, the company said.
Chief Executive Pete Chareonwongsak said the HPS investment would help Teleport scale into key global markets, targeting high-growth e-commerce corridors between China, the rest of Asia and the Middle East.
He added that Teleport has so far captured around 1% of an estimated $28 billion total addressable market for China–Southeast Asia air cargo and cross-border e-commerce.
Capital A Chief Executive Tony Fernandes said the partnership would help the AirAsia airlines maximise belly space and network utilisation, adding that the updated valuation represented an unrealised return of more than 100-fold for Capital A.
Completion of the securities issuance is subject to conditions set out in the subscription agreement.
BNP Paribas and Milbank acted as Teleport’s financial adviser and legal counsel, while Latham & Watkins advised HPS.
Business News Asia
