$10 Million each, awarded to 6 new venture funds

The National Research Foundation will be awarding six new venture funds with S$10 million each under the Early Stage Venture Funding scheme.

These selected venture funds will in turn have to raise a matching sum of at least S$10 million from third party investors.

They will then invest the money in locally-based high-tech start-ups.

The Early Stage Venture Funding scheme was first announced earlier this year.

It is aimed at helping young high-tech start-up companies in Singapore get funding during the early stages of their development.

The six selected fund managers are: BioVeda Capital II, Nanostart Asia, Raffles Venture Partners, Tamarix Capital, Upstream-Expara and Walden International.

Image Source NRF. Article Source CNA.
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