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Singapore business school INSEAD launches seed fund

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INSEADAlum Ventures (IAV), the Singapore-based VC arm of international business school operator INSEAD, has launched a seed fund dedicated to its alumni and faculty networks across Europe and Asia.

The S$1 million ($700,000) vehicle will invest S$50,000-200,000 in each start-up, with follow-up support aimed at developing them to the point where they can easily raise further seed or Series A funding. Entrepreneurs will also get access to senior alumni, industry experts, faculty and other investors.

According to a statement, the firm's investor base includes Jani Rautiainen, co-founder of PropertyGuru, Southeast Asia's largest property portal, and Aloke Bajpai, principal founder of Indian online travel search portal, iXiGO. The first investment involved participation in a GBP480,000 ($583,000) round for Switchee, a UK-based internet-of-things player focused on home living technologies such as smart thermostats.

"We are extremely pleased to become part of the InseadAlum Ventures portfolio," said Adam Fudakowski, managing director of Switchee and an INSEAD graduate. "We look forward to working with [IAV founders Will Klippgen and Deepak Shahdadpuri], and to leveraging their extensive expertise and that of the INSEAD community as we grow Switchee further."

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