Singaporean Agency for Science, Technology and Research’s commercialisation arm A-ccelerate is getting closer with its partners to raise 85 million Singaporean dollars ($62 million) for a technology-focused venture fund.
A-ccelerate’s investors include Singaporean investment firm Startup-O, private equity firm Hafnium Hafaway, peers Trendlines and Dymon Asia Ventures, among others.
The investments aim to create technology startups in areas like the Internet of Things, artificial intelligence and speciality chemicals.
The partnership agreement also expects Hafnium Hafaway to invest up to $14.5 million in 10 local speciality chemicals startups.