Cityneon Holdings, a global experience entertainment company, has announced a rebrand after welcoming an investment of S$150 million from 65 Equity Partners, an independently managed investment firm which is wholly owned by Temasek Holdings. The company wrapped up a round of private funding last April, raising a total of S$235 million. These funds will go towards strengthening its growth trajectory and goals.
The firm’s existing major institutional investors and shareholders – CITIC Capital, Pavilion Capital, EDBI, Qatar’s Doha Venture Capital, SeaTown Holdings International, and veteran entrepreneur and investor Johnson Ko – will now be joined by 65 Equity Partners, forming a strong investor base alongside Cityneon’s executive chairman & group CEO Ron Tan.
A new phase of growth
“We are excited to partner Cityneon’s management team in its next phase of growth,” says Tan Chong Lee, CEO of 65 Equity Partners. “Cityneon has a unique franchise, which provides IP-based immersive entertainment where it has built a leading position globally supported by a portfolio of high-quality IPs.
“This investment aligns strategically with our mandate of supporting high growth, leading businesses led by founders and entrepreneurs, to help them scale and fulfil their growth aspirations, as well as facilitating their eventual public listing.”
The money raised will be used to strategically support the Group’s global growth strategies, which include entering new markets, acquiring new intellectual property (IP), enhancing technological capabilities through the Company’s internal R&D department, launching fresh, lucrative business ventures, and strengthening its balance sheet.
Credit Suisse acted as the company’s sole financial advisor in this transaction.
Meet NEON
The group’s aim to lead the world in immersive entertainment while keeping the connection to its 65-year past was what inspired the decision to rebrand. Since “NEON” is derived from the Greek word “neos,” which means “new,” the company will work to always be current by providing fans and families with fresh experiences.
“This successful round of funding is a testament of the confidence in the Group and affirms our trajectory of growth as a global leader in creating unique, immersive experiences for audiences worldwide,” says Ron Tan. “With the support of 65 Equity Partners, and our strong stable of existing shareholders, we are excited about future opportunities as we continue to strengthen our capabilities and expand the reach of our portfolio of IP experiences to accelerate growth into 2023 and beyond.
“Our rebranding into NEON encompasses our vision of the convergence of the physical and digital space, transcending geographical limitations and create a fully integrated global experience for our visitors.”
Following the pandemic and the latest round of funding, NEON is ready for a new chapter of growth as it heads into the future. Recently, it worked with the governments of Peru and Egypt to present two original artefact IP experiences, Machu Picchu and the Golden Empires of Peru and Ramses the Great and the Gold of the Pharaohs. These exhibitions featured real historical artefacts. The company has also signed two new global IPs with Warner Bros. Themed Entertainment and is entering into a strategic partnership with the Qatar Free Zones.
Over the past year, its key exhibitions have performed well, including Jurassic World: The Exhibition in London, Ramses the Great and the Gold of the Pharaohs in San Francisco, and Marvel Avengers S.T.A.T.I.O.N. in Chile and Tokyo. This week, it will debut Avatar: The Experience at Gardens by the Bay in Singapore. Plus, Jurassic World: The Exhibition will launch in Japan in Spring 2023, and many more shows are on the horizon.
