In 2014, venture capitalist Aileen Lee coined the term “unicorn” to describe companies valued at more than US$1 billion. Like the mythical creatures the term refers to, unicorn companies are relatively rare.
That said, Asia has given rise to numerous unicorn companies since the term emerged. As of 2021, there are more than 390 unicorns in the Asia-Pacific region, with about two-thirds of them hailing from China.
The 2022 Gen.T List includes 16 honourees who run unicorn companies—the largest number to feature on the list to-date.
SHEN XIAOYONG
When Shen Xiaoyong started his company, SmartMore, he wanted to push the boundaries of production efficiency using technology like AI. Since 2019, SmartMore has created more than 30 intelligent manufacturing systems, and in 2021, the company raised US$200 million in Series B funding.
MONSINEE NAKAPANANT
Monsinee Nakapanant is the co-president of Ascend Money, a fintech company she co-founded in 2013. In September 2021, Ascend Money raised US$150 million from investors at a valuation of US$1.5 billion, making it Thailand’s first fintech unicorn and the second unicorn in the country.
YIN QI
Founded in 2011, artificial intelligence unicorn Megvii is a world leader in deep learning facial recognition technology with its signature product Face++. Under the leadership of co-founder and CEO Yin Qi, it has become the world’s largest authentication software company and in 2021 it became the first Chinese AI company to go public, with a US$890 million Shanghai IPO.
PAUL LEISHMAN
This story is from the Jan 2023 edition of Tatler Singapore.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the Jan 2023 edition of Tatler Singapore.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
Mathew Leong
As the Norway-based Singaporean chef celebrates a milestone year both personally and professionally, he opens up about the toughest moments of his career and why failing is not an option
Asian Inspirations
Chef Ace Tan on his second restaurant, Asu-his love letter to regional Asian cuisine
State of the Arts
Arts nominated member of parliament Usha Chandradas discusses growing the creative economy by focusing on both supply and demand
Through a Curator's Lens
Circe Henestrosa, a fashion curator and the head of the School of Fashion at Lasalle College of the Arts, University of the Arts Singapore, merges her personal connection with artist Frida Kahlo with her extensive curatorial experience to explore intersecting themes of identity, disability and cultural heritage
Second Nature
Poet and educator Yong Shu Hoong brings fresh perspectives to the helm of the Singapore Writers Festival, from interdisciplinary perspectives to multilingual programmes
Wine Down
Nothing wraps up the day like a nice glass of vino. From flashy hedonistic escapades to geeky watering holes, these new wine bars promise celebrated viniferous pours that will please even the most discerning of oenophiles
A Legacy in Silhouettes
Kristina Blahnik, CEO of the designer shoe brand Manolo Blahnik and the niece of its legendary founder, shares her insights on preserving the house's heritage and introduces the new Manolo's Silhouettes campaign
To Have and to Hold
With its sumptuous textures, Loro Piana's elegant autumn/winter 2024 collection is a chic celebration of craft, quality and the universal appeal of tactility
Scent of Strength
Hermès unveils its first chypre perfume, Barénia―a captivating fragrance crafted by renowned perfumer Christine Nagel that embodies bold femininity and celebrates the brand's rich heritage
Nocturnal Revival
Nighttime skincare rituals will get a boost of supercharged restoration with La Mer's new Rejuvenating Night Cream
