Singapore: Co-working space Impact Hub launches S$1m venture fund

Visual taken from Impact Hub Singapore Facebook page.

Co-working space Impact Hub Singapore has launched a S$1 million seed fund to invest in early-stage startups.

It becomes the fist community/co-work space too launch such a fund in Singapore,  and the investors in this vehicle include family offices, high-net-worth individuals (HNIs), as well as members of its own community.

Its advisers include Monk’s Hill Ventures managing director Ong Peng Tsin, Cocoon Capital managing partner Michael Blakey, NSI Ventures founding partner Hian Goh and KK Fund general partner Kuan Hsu.

Impact Hub Singapore currently maintains two facilities; one is located at Cuppage Terrace in Orchard Road while another is sited at Prinsep Street.

In an interaction with The Straits Times, Grace Sai, chief executive and co-founder of The Hub, explained that the fund will allow it to grant startups closer post-investment support and monitoring than most venture capital (VC) funds or accelerator programmes.

The report quoted her as stating: “This is a main selling point to our investors – the belief that post-investment support could make or break an early-stage company. We imagined how much more of a valuable partner we could be if we could seed them and help them get follow-on funding.”

She further added: “Many entrepreneurs in The Hub’s community have become successful and they want to seed the next generation of entrepreneurs. We believe in members who invest in other members, founders turned funders and also professional investors who believe in a founder-centric, post-investment support model. That’s a true mark of a strong and vibrant community.”

This setup will allow for more targeted due diligence and guidance of founders whose ventures are investees of the fund, as well as connect them to other startup founders, entrepreneurs and investors in the community.

This will also aid in the organic development of relationships with mentors, unlike accelerators which often assign mentors to founders of ventures in their accelerator programme

The advantage of being based in a co-working space is that startups can leverage on is the chance to develop extensive networks and strong relationships (i.e. social capital), as well as the resource base they provide.

As Entrepreneur notes: “Co-working spaces can ease some of the stress of starting a new business and provide valuable resources and connections you won’t find anywhere else. They’re popular for the flexibility they offer new businesses, but the real value is in their assisted serendipity: the informal conversations and the expert advice members are happy to offer one another.”

Also Read:

Impact Hub Singapore partners with IDA, launches second co-work facility

The Hub Singapore in expansion mode, to launch S$1m investment fund

Coworking space The Hub Singapore bags $1.1m Series A funding: Report

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.