30 Oct 2020
Startup SG Equity Scheme (Fund-of-funds)
The Startup SG Equity (SSG-E) scheme aims to stimulate private sector investments into innovative and commercially viable Singapore-based technology startups with global market potential. The scheme was enhanced in 2020 to catalyze more private sector investments into Singapore-based Deep Technology startups, and introduced a fund-of-funds modality to attract global venture capital funds with experience in Deep Technology investments.
Criteria for Startup SG Equity Scheme (Fund-of-funds)
Eligibility criteria for the SSG-E (Fund-of-funds) scheme include:
• Strong commitment to invest in early-stage Singapore-based Deep Technology Startups with a primary focus on Advanced Manufacturing, Pharm bio/MedTech, and Agri-food tech sectors.
• Investee Fund should be domiciled in Singapore. Investee Funds based overseas should have its investment decision-making authority and key executives making the investment recommendations based in Singapore.
• General Partner with experience in leading early-stage investment rounds in Deep Technology Startups with a track record of positive IRR.
• Management team with strong management experience, technical and financial expertise to ensure robust decision-making processes.
• Strong business networks with access to deal flow, funding, and commercialization network to facilitate the growth of investee startups.
• Investment Conditions: Total investments by the Investee Fund into Singapore-based Deep Technology Startups should minimally be matched against EDBI’s capital commitment using a 1:1 ratio and be at least 20% of the total fund size.