‘East Meets West’ $200m Singaporean VC fund launches in London
Infocomm Investments’ evergreen fund set to back European tech start-ups
Leading Singaporean venture capital firm Infocomm Investments today announced the extension of a $200m investment fund, opening up capital to European tech firms for the first time.
Through its new hub in East London’s Tech City, Infocomm’s investment fund will focus on European tech start-ups looking to expand into the lucrative Asian market for the first time.
The fund has already announced its first European investment, into leading financial technology accelerator Startupbootcamp FinTech.
The investment, for an undisclosed sum, will allow Startupbootcamp FinTech to launch operations in Singapore, with Infocomm offering Asian market-centric mentoring for start-ups on the accelerator’s portfolio.
Infocomm said Singapore and London were “natural partners” and it hoped to foster the view amongst tech firms that Singapore was the best gateway into the increasingly lucrative Asian markets.
The state-funded VC firm is expected to use its extensive connections to create new opportunities for London start-ups in the Asian country.
The fund’s European operations will be led by Zach Tan, previously an investment manager at Infocomm’s Singapore office. Tan said: “I am excited about this opportunity to bridge the tech building community and entrepreneurs in London and Singapore with the knowledge, capabilities and connections to access each other’s markets.
“Our partnership with Startupbootcamp FinTech is the first step of the journey, and I look forward to working closely with all stakeholders in the London ecosystem to build startups that are able to scale in both Europe and Asia.”