Two new co-investment partnerships will focus on funding and connecting startups originating from Singapore university to global networks and expertise
[SINGAPORE] The National University of Singapore’s (NUS) entrepreneurial arm NUS Enterprise is embarking on two new co-investment partnerships, as well as a S$2 million collaboration with Stanford University.
These moves were announced on Tuesday (Sep 16) at the reopening of NUS Enterprise’s renovated i3 building, a centre for deep-tech innovation, entrepreneurship and collaboration.
Beyond funding, the two partnerships will connect startups that originate from NUS to global capital networks and expertise “while ensuring that profits are reinvested back into education and entrepreneurship”, said NUS senior vice-president (innovation and enterprise) Tan Sian Wee.
The first is a co-investment framework with SG Growth Capital, the investment platform of the Singapore Economic Development Board and Enterprise Singapore.
Under this framework, NUS Enterprise’s investments into selected venture capital (VC) funds will be matched to some degree by SG Growth Capital, with the share of matching being at the latter’s discretion.
A S$20 million co-investment agreement was also signed between NUS Enterprise and Lotus One Investment, part of the Lotus Singapore Group family office. The aim is to jointly support both NUS spin-offs and VC funds.
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Profits from this partnership will be reinvested to strengthen NUS Enterprise’s innovation and entrepreneurship programmes.
The two partnerships complement the S$150 million NUS VC Programme launched in July, which aims to facilitate the growth of deep-tech startups in the Singapore university’s ecosystem.
Under that programme, NUS Enterprise is investing S$50 million in selected VC firms to support NUS tech startups, and has committed S$100 million to an autonomous investment fund focused on startups affiliated with the university.
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These include startups from the National Graduate Research Innovation Programme (Grip), which helps transform lab-based research into market-ready ventures.
National Grip aims to train 300 startup teams by 2028 and nurture more than 150 spin-offs by 2030, said Deputy Prime Minister and Minister for Trade and Industry Gan Kim Yong at the event.
The reopened i3 building supports this by offering incubation support and mentorship, and providing a space for collaboration, he added.
Meanwhile, NUS Enterprise’s VC Programme is a “timely initiative” as VC funding has diminished, he noted.
Collaboration in education
NUS Enterprise is also starting a S$2 million pilot collaboration with Stanford University, made possible through a donation from the Khetan Foundation.
Guided by faculty from both universities, students from the NUS College of Design and Engineering will get hands-on experience in creating solutions to real-world industry challenges, working with partners such as Meta and Venture Corporation.
