Photo credit: David Russo.
A new investment firm called InseadAlum Ventures launched in Singapore today, announcing a capital of nearly US$700,000 to invest in startups founded by alumni of international business school INSEAD.
Although based in the city-state, the seed firm will target global companies co-founded by at least one INSEAD alum, it said in a statement. It will provide mentorship, sign checks worth US$35,000 to US$140,000, and develop startups to a point where they can easily raise further funding.
The firm was founded by prominent investors Deepak Shahdadpuri and Will Klippgen, who are INSEAD alumni themselves. Deepak is managing director of Singapore-based VC DSG Consumer Partners, and Will co-founded another Singaporean VC firm focusing on seed and series A stages, Cocoon Capital.
InseadAlum Ventures’ first investment is a UK-based smart thermostat startup called Switchee, where it participated in a US$580,000 seed round.
Switchee and future portfolio companies will get access to INSEAD’s network of senior alumni, faculty, industry experts, and other investors. PropertyGuru co-founder Jani Rautiainen and Aloke Bajpai, founder of India’s largest online travel search portal Ixigo, are among those investors.
Converted from Singapore dollars and British pounds. Rates: US$1 = SGD 1.44 and GBP 0.82.
This post New Singapore investment firm to fund INSEAD alumni startups appeared first on Tech in Asia.
from Tech in Asia https://www.techinasia.com/inseadalum-ventures-singapore
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