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Media Releases
05 Jun 2020 Updated 23 Jul 2020

EDBI and SEEDS Capital to provide S$285 million in financing to promising startups to tide through COVID-19 period

MR No.: 042/20

Singapore, Friday, 5 June 2020

EDBI, the corporate investment arm of Economic Development Board, and SEEDS Capital, the investment arm of Enterprise Singapore, will administer the S$285 million Special Situation Fund for Startups to provide financing support for promising startups based in Singapore. Under this scheme, EDBI and SEEDS Capital will invest in selected startups with private sector co-investors on a 1:1 basis. The scheme, announced by Deputy Prime Minister Heng Swee Keat in the Fortitude Budget speech on 26 May 2020, will provide time-limited funding support to help high-potential startups sustain their growth momentum despite the COVID-19 pandemic. The scheme will end when the funds are fully committed or by 31 October 2021, whichever is earlier.

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