EDBI, the corporate investment arm of the Singapore Economic Development Board, and SEEDS Capital, the investment arm of Enterprise Singapore, will disburse the government’s S$285 million ($201 million) support package for local startups.
The two government-backed entities will set up a special fund, dubbed the Special Situation Fund for Startups (SSFS), to invest in select startups with private co-investors on a 1:1 basis, according to a statement.
