According to IFC website, this investment will fall under the IFC Startup Catalyst program, which supports entrepreneurs and early stage companies through investments in various seed stage structures. The expected development impacts are:
i. Address funding gap for seed stage investments: Seeplus will support upto 20 early stage companies, helping to fill the void of early stage capital. More broadly, IFC would like to help build and support local, sustainable ecosystems for entrepreneurship and venture capital.
ii. Job creation: Seedplus expects its graduated companies to create 100+ new jobs in the near term.
iii. Support local entrepreneurship: Through its relatively long acceleration cycles, Seedplus with help support entrepreneurship by offering deep engagement on operations, access to networks and follow on funding through the Jungle Ventures platform
SeedPlus Singapore L.P. (“SeedPlus”) is a Singapore based accelerator that is raising SGD 25 million to support 20 early stage companies in South East Asia and India, primarily in the ICT sector.
SeedPlus will be managed by a full time operating team headed by Michael Smith of Jungle Ventures Pte Ltd.
Jungle Ventures is a Singapore based registered fund management company founded by Amit Anand and Anurag Srivastava in 2012.
Project Contact: Michael Smith
Email Address: firstname.lastname@example.org
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