SEEDS Capital, the investment arm of Enterprise Singapore (EnterpriseSG), is seeking new partners to co-invest in Singapore-based deep-tech start-ups.
According to an Aug 29 announcement, the group has currently set aside $150 million under EnterpriseSG’s start-up SG Equity scheme to catalyse similar co-investments with the private sector over the next three years.
Additionally, the group has also increased its investment cap for deep-tech start-ups to $12 million from $8 million previously, and is expanding co-investments beyond early-stage start-ups to include those in later growth stages.
It aims to accelerate and sustain the growth of deep-tech start-ups, which typically have a longer path to commercialisation and require patient capital.
In 2023, Singapore was the top start-up investment destination in Southeast Asia, with deep-tech deals increasing by more than 30% y-o-y amid the global funding downturn. According to SEEDS Capital, this came alongside the start-up and innovation ecosystem gaining maturity, shifting towards deep-tech deals in domains such as precision medicine and climate tech.
Focused on continuing this momentum, SEEDS Capital is seeking strategic partners who possess a strong record and expertise in investing in deep-tech.
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Potential partners should also have technical and domain expertise in any of the following fields: advanced manufacturing, pharmaceuticals, medtech, agrifood tech, spacetech, quantumtech and sustainability.
SEEDS Capital seeks partners who possess international networks to facilitate market entry and expansion, and early growth investment capabilities to lead Series B and C rounds to support the scaling of deep-tech start-ups’ commercialisation efforts.
Tan Kaixin, SEEDS Capital’s general manager, says: “We are seeking investment partners like [venture capital firms] and [corporate venture capital firms] that not only possess the financial backing to support the long gestation period of deep-tech start-ups, but also offer added value in the areas of business development, commercialisation and global market access.”
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Currently, SEEDS Capital has a network of 40 partners, which includes global investors with international networks and specialised domain expertise such as ClavystBio, Coronet Ventures, Emerald Technology Ventures and NSG Ventures; as well as leading local deep-tech funds like Elev8.VC, TRIREC and Wavemaker Partners.
SEEDS Capital will be accepting proposals from interested parties until 5pm on Sept 11.
