Singapore's NRF seeds four corporate VC funds

Each fund will receive S$10 million through the third installment of the NRF's early stage venture fund (ESVF) program. The initiative, announced last September, is intended to encourage large local enterprises to establish venture capital units and play a fuller role in the technology development ecosystem.

Under the ESVF, the NRF matches private sector commitments to funds on a 1:1 basis on the condition that all the capital goes into Singapore-based high-tech start-ups. The first two rounds of program targeted independent venture capital firms.

CapitaLand's fund will back start-ups that complement the real estate sector in areas such as design and construction, operations and maintenance, sales and leasing, workplace productivity and smart living solutions. Portfolio companies will be able to test their solutions in CapitaLand-owned properties.

"As a market leader with scale and depth across the entire real estate value chain, it is incumbent on CapitaLand to continually leverage on technology to develop the real estate of the future - integrated and interconnected smart buildings as well as seamless online and offline customer experiences," Kok-Siong Ng, chief corporate development officer at CapitaLand, said in a statement.

DeClout, which listed on Singapore's Catalist Board in 2012, describes itself as a "global builder of next generation high-tech companies." It invests in and incubates start-ups focused on IT infrastructure services and cloud-based platforms and communities. DeClout's fund will target big data analytics, smart logistics, cyber security and financial technology.

A leading Asian agribusiness player, Wilmar will support start-ups that could have a disruptive impact on food and agriculture, human and animal health, and industrial biotechnology. Meanwhile, the YCH fund - to be run by corporate VC arm Supply Chain Angels - will invest in companies that contribute to improving supply chain solutions. It is interested in the "Uberization" of logistics, the internet of things, 3D printing, big data, robotics and fintech.

In the first round of ESVF, in 2008, NRF provided S$10 million each to five VC firms: Bioveda Capital, Extream Ventures, New Asia Investments, Raffles Venture Partners and Walden International. The second tranche in 2014 saw Walden receive another S$10 million, as did four newcomers: Jungle Ventures, Golden Gate Ventures, SBI Venture Capital (now known as Tembusu Partners) and Monk's Hill Ventures.

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• Topics
• Southeast Asia
• Fundraising
• Venture
• Technology
• Singapore
• TMT