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Beyond bringing more collaboration opportunities between local and foreign companies, SG Growth Capital will look to develop deeper expertise in startup financing, venture building, and deep tech areas.
EDBI and SEEDS Capital (SEEDS) will be merged to form a new Government investment entity called SG Growth Capital.
As shared in a joint update, effective 1 April 2025, this merger will bring together the investment expertise and networks of EDBI (a fully-owned subsidiary of Economic Development Board) and SEEDS (a fully-owned subsidiary of Enterprise Singapore), with an aim to further support the growth of innovative enterprises and anchor key operations and capabilities in Singapore.
Png Cheong Boon, Chairman, EDB, will chair the Board of SG Growth Capital with Cindy Khoo, Managing Director, Enterprise Singapore as Deputy Chair of the Board. Meanwhile, Choo Heng Tong, Executive Vice-President, EDB, will hold the concurrent appointment of SG Growth Capital’s Chief Executive Officer; while Paul Ng, EDBI CEO, and Tan Kaixin, General Manager SEEDS Capital, will continue to lead EDBI and SEEDS divisions respectively under SG Growth Capital.
EDBI and SEEDS have both played pivotal roles in contributing to Singapore’s economic development through their investments over the past decades. Separately, EDBI has attracted and anchored foreign growth-stage companies and nurtured tech-centric local companies while SEEDS has grown the local startup ecosystem, and worked with private funds to catalyse support for Singapore-based, early-stage technology startups, it was noted.
Together, SG Growth Capital hopes to "better leverage EDBI’s and SEEDS’ expertise and networks to grow their portfolio companies." Beyond bringing more collaboration opportunities between local and foreign companies, this will also enable SG Growth Capital to develop deeper expertise in startup financing, venture building and deep tech areas.
Under SG Growth Capital, EDBI and SEEDS will continue to work closely with EDB and Enterprise Singapore to ensure that their investment focus remains aligned to the economic priorities of both agencies.
Lead image / 123rf.com
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