Singapore's Marvelstone launches venture arm

The new unit, known as Marvelstone Ventures, will parallel its direct start-up investments with support for other public and private sector institutions aiming to drive innovation in the region. It will be headed by Joel Ko, Mavelstone's managing partner.

"Marvelstone Ventures plans to invest only in smart city and paradigm-shifting technologies like blockchain, internet-of-things, artificial intelligence and, of course, fintech," Ko said, according to The Straits Times. "These technologies are critical in shaping a smart city and enhancing the lives of ordinary people."

Marvelstone has previously participated in early-stage technology development by launching Lattice80 a subsidized co-working space that occupies 30,000 square feet close to Singapore's central business district. The not-for-profit facility claims to the world's largest financial technology hub.

It follows the Singapore government's launch of an initiative to encourage large local enterprises to establish venture capital units and coincides with growing investor support for the country's overarching "Smart Nation" vision. The policy, which aims to incentivize technology development around urban efficiency, was recently earmarked S$19 billion ($13.3 billion) in government funds.

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• Topics
• Southeast Asia
• Technology
• GPs
• Financials
• Singapore
• Venture