SG’s SEEDS Capital, partners to co-invest $66.6m in agtech startups

Photo by Cezanne Ali on Unsplash

SEEDS Capital, the investment arm of Enterprise Singapore, and seven co-investment partners will invest over $66.6 million (S$90 million) in agrifood tech startups in Singapore, according to a statement.

The seven co-investors are AgFunder, Hatch, ID Capital, Openspace Ventures, The Yield Lab, Trendlines and Visvires New Protein.

SEEDS Capital will co-invest in the ratio of for the first $370,000 (S$500,000) of co-investment and up to $3 million (S$4 million) per deep tech startup under Startup SG Equity, a government scheme which promotes private sector investment in startups through an equity co-investment from the Singapore government.

The new partners join 18 other co-investment partners of SEEDS Capital. According to SEEDS, over $96 million (S$130 million) has been invested in sectors such as advanced manufacturing & engineering, health and biomedical sciences, services & digital economy and urban solutions & sustainability through these partnerships.

Ted Tan, chairman of SEEDS Capital and deputy chief executive of Enterprise Singapore, said: “Agri-tech is an important sector as we work towards the vision of developing Singapore into a leading food and nutrition hub in Asia. By leveraging on the expertise from the private sector, we will catalyse deep tech innovation through high-potential startups to develop disruptive food and agri-tech solutions, and reduce our reliance on food imports.”

Gerard Chia, partner of Visvires New Protein Capital said: “We are delighted to be appointed by SEEDS Capital as a co-investment partner. As one of the first VC funds to focus on disruptive solutions for a healthier, safer and more sustainable food and feed system, we see this as a mark of confidence in our investment approach.”

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.