National University of Singapore invests in Asian VC funds to boost spinouts –

The National University of Singapore is beefing up its ability to finance spinout companies by investing in two venture capital firms. The investment is being done through NUS Enterprise, the commercialisation arm of the National University of Singapore.

NUS Enterprise announced an agreement with SG Growth Capital, an investment platform of government bodies Singapore Economic Development Board and Enterprise Singapore, to co-invest in deep tech startups and venture capital funds. The two funds will invest in startups spinning out of the Singapore university as well as emerging companies in other Asian nations.

It also signed a S$20m ($16m) co-investment agreement with Lotus One Investment, the Singapore-based investment arm of Lotus Singapore, a family office associated with the Khetan Group, a Nepali conglomerate. The fund will invest in spinouts from the National University of Singapore and will back other VC funds.

NUS Enterprise announced plans in July to expand its VC investing. It pledged to commit S$50m to early-stage venture capital funds to bolster the university spinout sector in Asia. Its initial investments were in Granite Asia, a multi-asset investment firm, and 4BIO, a specialist life sciences investor.

NUS Enterprise also launched a S$100m fund to back startups affiliated with its own university.

The National University of Singapore’s expansion comes as VC funding in Asia has reached a decade low of S$85bn, with early-stage investing particularly hard hit, falling 5% between 2023 and 2024 to S$38bn.

The university has sought to boost its international profile as an early-stage VC investor, recently hiring two US-based venture capital advisers – Patrick Ennis from Madrona Venture Group and Donna See, CEO of Xora Innovation – to help it expand its venture investments.