Steve Leonard, the founding CEO of SGInnovate, is departing the firm in May this year.
According to a statement, the Singapore government-backed deep tech venture builder is in the midst of appointing Leonard’s successor and will make an announcement once details are confirmed.
SGInnovate declined to comment if Leonard will maintain an advisory role upon departure, adding that his next role will be announced “in due course.”
Leonard has been part of SGInnovate’s growth journey since its inception in 2016. Since its launch, the SGInnovate team has built and invested over $28.8 million (S$40 million) in more than 60 deep tech startups and created a deep tech community of over 33,000 people.
“From imagining it in 2015 to its launch in 2016 and operating as a highly-professional group as we enter 2020, I feel tremendous personal pride. The conclusion of my current term in May represents a good time for organisational renewal. Every team moves forward based on fresh ideas and energy, and I’m very confident in the men and women of SGInnovate to continuously bring new capabilities to the deep tech startup ecosystem in Singapore,” said Leonard.
SGInnovate added that it does not anticipate significant updates to its organisation structure, and will remain committed to its mission of helping entrepreneurial scientists build and scale deep tech startups in Singapore.
SGInnovate, a government-backed unit aimed at spurring Singapore’s deep tech sector, is one of two fund managers under the Startup SG Equity Scheme under Enterprise Singapore.
Some of its portfolio companies include AIDA Technologies (AI), Taiger (AI), Horizon Quantum Computing (quantum tech), SpeQtral (quantum tech) and Atomionics (quantum tech).