Singapore's KK Fund launches large business accelerator

KK Fund described the effort as the centerpiece of a wider ranging partnership with a local unit of Japanese corporate advisory Industrial Growth Platform (IGPI). KK Fund will contribute experience in start-up support and technology investment, while IGPI Singapore will supply corporate transformation knowhow for large companies in Japan and Southeast Asia.

The accelerator, known as SEA Point, will launch in 2021 and essentially act as a platform for large corporates to build new businesses alongside Southeast Asian start-ups and regional conglomerates in a range of industries. KK Fund and IGPI said they wanted to reinvent the idea of the start-up ecosystem from being top-down to being more collaborative on multiple levels.

“We are increasingly seeing enterprises becoming active partners in and even establishing small companies of their own to service new markets, particularly in Southeast Asia, which is a very competitive market,” Koki Sakata, CEO of IGPI Singapore, said in a statement.

“Some may create their own branches, while others may look for local partners to set up a joint venture. Their approach to creating new businesses must be different from typical small, agile start-up teams, which is why we are pleased to collaborate with KK Fund in supporting these large corporations and create a more diversified ecosystem.”

KK Fund has invested in more than 20 mobility and internet-related start-ups in Southeast Asia since its inception in 2015, with focus areas including fintech, logistics, and healthcare. Recent ecosystem building activity includes the firm’s Meet Your Match initiative, which has helped more than 130 investors connect virtually with start-ups in Korea, Hong Kong, Taiwan, and Southeast Asia.

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• Topics
• Southeast Asia
• Technology
• Early-stage
• Advisory
• Singapore
• KK Fund
• seed