Business

ESG's investment arm seeks co-investors in agrifood start-ups

Enterprise Singapore (ESG) investment arm Seeds Capital is seeking co-investment partners for agri-food start-ups. A call for partnership was launched yesterday and will close on Oct 5.

Partners should be able to identify and co-invest in Singapore-based, deep tech and early-stage start-ups in agri-food technology - innovations that improve the efficiency and sustainability of the food supply chain.

They should be able to provide hands-on assistance in helping early-stage start-ups commercialise quickly and mentor and connect them to potential clients.

Seeds Capital will co-invest in the ratio of 7:3 for the first $500,000 of investment and up to $4 million for each deep tech start-up.

This has been enhanced from the previous 1:1 co-investment ratio and $2 million cap under the Startup SG Equity scheme, for which Seeds Capital is one of the administrators of funds.

The move is part of ESG's plans to develop Singapore's food manufacturing sector into a leading food and nutrition hub in Asia by 2025, said the agency yesterday.

Submit proposals to cfp_ssge@enterprisesg.gov.sg. Both local and foreign parties with a Singapore-based presence may apply.

Applicants will need to show financial commitment, resources, expertise in agri-food technology and experience in nurturing start-ups, as well as a good track record. - THE STRAITS TIMES

BUSINESS & FINANCE