Heaptalk, Jakarta — EDBI and SEEDS Capital (SEEDS) will merge to form a new Government investment entity called SG Growth Capital Pte Ltd. The measure will combine the investment expertise and networks of EDBI and SEEDS start from 1st April 2025 to support the growth of innovative enterprises.
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 with the economic priorities of both agencies.
Over the past decades, these entities have built a strong track record of catalyzing and contributing to Singapore’s economic development through their investments. EDBI has attracted and anchored foreign growth-stage companies and nurtured tech-centric local companies. Meanwhile, SEEDS has grown the local startup ecosystem and worked with private funds to catalyze support for Singapore-based, early-stage technology startups.
SG Growth Capital will better leverage EDBI’s and SEEDS’ expertise and networks to grow their portfolio companies, including unlocking strategic 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.
Png Cheong Boon, Chairman of EDB, will chair the Board of SG Growth Capital, with Ms Cindy Khoo, Managing Director of Enterprise Singapore, as Deputy Chair. Meanwhile, Choo Heng Tong, Executive Vice President of EDB, will hold the concurrent appointment of SG Growth Capital’s Chief Executive Officer (CEO). Besides, Paul Ng, CEO of EDBI, and Tan Kaixin, General Manager of SEEDS Capital, will continue to lead the EDBI and SEEDS divisions under SG Growth Capital.
As is known, EDB is a government agency under Singapore’s Ministry of Trade and Industry. The agency is responsible for strategies that enhance Singapore’s position as a global center for business, innovation, and talent. EDB undertakes investment promotion and industry development and works with international businesses, both foreign and local, by providing information, connections to partners, and access to government incentives for their investments.
