SEEDS Capital, the investment arm of Enterprise Singapore, has appointed 13 new co-investment partners including Emerald Technology Ventures to jointly invest into Singapore-based deep tech startups under the Startup SG Equity Scheme. The appointment of these new partners is expected to catalyze more than S$150 million worth of investments into deep tech startups across Advanced Manufacturing & Engineering, Urban Solutions & Sustainability, and Health & Biomedical Sciences, in line with the technology domains under Singapore’s Research, Innovation and Enterprise Plan.
Global trends have emerged or heightened as a result of the COVID-19 pandemic casting a spotlight on areas such as sustainability, supply chain resilience and healthcare needs. SEEDS Capital and the newly appointed partners will work together to invest in early-stage deep tech startups and support them in developing new and disruptive technologies that can enable enterprises and industries to mitigate challenges and plan for the future.
Ms. Gina Domanig, Managing Partner at Emerald Technology Ventures said, “We are honored to partner with SEEDS Capital to identify and invest into high-caliber, innovative Singapore-based startups that drive sustainable innovation and long-term value. Rapidly evolving business circumstances require targeted advances in technology and we look forward to using this collaboration, our sector knowledge, venture capital expertise and network to accelerate innovation in Singapore’s vibrant startup ecosystem.”
Mr. Ted Tan, Chairman of SEEDS Capital and Enterprise Singapore’s Deputy Chief Executive Officer said, “We are excited to appoint these 13 new co-investment partners, further strengthening SEEDS Capital’s current pool of partners in the three technology domains. Catalyzing more VC investments in this current environment where investors tend to be more cautious is significant. SEEDS Capital can now offer deep tech startups, which have innovative and scalable solutions, with the opportunity to be mentored by our new partners who bring with them extensive market connections and a wealth of sector-specific domain knowledge to increase their chances of success.”
Besides co-investing, the partners will provide hands-on assistance to help the startups fast-track their commercialization process, through mentorship and connections to potential clients through their networks. SEEDS Capital will provide a co-matching of 7:3 for the first S$500,000 of co-investment, with a cap of up to S$8 million per deep tech startup under the Startup SG Equity scheme. As part of the Startup SG initiative, the Startup SG Equity scheme aims to stimulate private sector investments into Singapore- based deep tech startups that hold strong intellectual property and global market potential.