Nanostart acquires 10% stake in Stella Specialty Chemicals
Nanostart Asia Pacific has acquired a 10% stake in Singapore-based Stella Specialty Chemicals and plans to increase its holding to around 23% by the beginning of next year. The investment was made through the Nanostart Singapore Early Stage Venture Fund I.
The capital will be used to implement marketing concepts, build up a sales team for the Asian market and validate products and innovations to meet the needs of customers.
Stella, which originated from the Advanced Material Technology Center at Singapore Polytechnic, produces specialty chemicals used to treat metals and plastics. It also develops its procedures for the speedy addition of nano-protective layers to metal surfaces.
"The Stella product range provides solutions that not only improve the end product itself, but also meet economic efficiency and environmental compatibility requirements," said Bernd Dautel, director of Nanostart Asia Pacific, in a statement. "The market potential is correspondingly high. Stella therefore meets our criteria for a company that we expect to perform strongly."
Launched 2008, Nanostart Singapore Early Stage Venture Fund I is a venture capital fund that invests in up-and-coming nanotechnology companies in Singapore. The fund has a corpus of S$20 million ($15.7 million), half of which came from the Singaporean government through its National research Foundation.
More on Southeast Asia
Latest News
Asian GPs slow implementation of ESG policies - survey
Asia-based private equity firms are assigning more dedicated resources to environment, social, and governance (ESG) programmes, but policy changes have slowed in the past 12 months, in part due to concerns raised internally and by LPs, according to a...
Singapore fintech start-up LXA gets $10m seed round
New Enterprise Associates (NEA) has led a USD 10m seed round for Singapore’s LXA, a financial technology start-up launched by a former Asia senior executive at The Blackstone Group.
India's InCred announces $60m round, claims unicorn status
Indian non-bank lender InCred Financial Services said it has received INR 5bn (USD 60m) at a valuation of at least USD 1bn from unnamed investors including “a global private equity fund.”
Insight leads $50m round for Australia's Roller
Insight Partners has led a USD 50m round for Australia’s Roller, a venue management software provider specializing in family fun parks.