SG’s Quest Ventures ties up with raiSE to launch social impact accelerator 

Photo by AbsolutVision on Unsplash.

Singapore-based venture capital firm Quest Ventures and the Singapore Centre for Social Enterprise (raiSE) have launched an accelerator targeting startups in the social impact space. 

The accelerator programme, which will run from June to August this year, will offer funding of up to $40,000, mentorship, and network access to seed-stage startups to help them to scale and access markets overseas. Applicants must already be generating revenue, have a user base, and demonstrate potential for double-digit year-on-year growth within the next five years. 

The sustainable impact programme will help them to work towards an institutional investment round in the next 12 months.

“ESG and impact investing are not new concepts in Singapore and the region, but there is still plenty of room for growth. With the growing appetite for sustainable investments, the accelerator programme will benefit both investors and start-ups in tackling important social issues and gaps,” James Tan, the managing partner of Quest Ventures said in a press release. 

“This partnership is extremely timely as we observe more start-ups using their businesses as a vehicle to address not just market gaps, but also social gaps. Navigating the social impact space may not be easy,” said Mr Alfie Othman, raiSE’s chief executive officer.

raiSE is an ecosystem builder set up in 2015 to develop Singapore’s social enterprise sector. It was formed by Singapore’s Ministry of Social and Family Development, National Council of Social Service, Social Enterprise Association and Tote Board. 

Quest Ventures is an early-stage venture capital firm founded by Tan and Wang Yunming. The company has backed firms like Carousell, 99.co, and Carro.

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter

This is your last free story for the month. Register to continue reading our content