The Singapore government has selected six venture capital firms to each receive S$10 million (US$7.9 million) in taxpayer’s money under the Early Stage Venture Fund (ESVF) scheme. The money will be matched on a one-to-one basis with the VC firms’ own funds, which will be used for investments into Series A level startups.
In total, S$120 million (US$96 million) worth of government and private sector money will be plowed into innovative young technology companies. The six selected venture capital funds are: Jungle Ventures, Golden Gate Ventures, Walden International, SBI Ven Capital, New Asia Investments, and Monk’s Hill Ventures.
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To read the original article: Singapore government to pump $48 million into six venture capital funds - Yahoo News Singapore
