An Interest In:
Web News this Week
- April 24, 2024
- April 23, 2024
- April 22, 2024
- April 21, 2024
- April 20, 2024
- April 19, 2024
- April 18, 2024
Some of Our Sources
- Simplebits
- TutsPlus - Code
- Web Designer Wall
- The Logo Smith
- TutsPlus - Design
- Inspiredology
- FanExtra - PSD
- My Ink Blog
- Fudge Graphics
- Android Dissected
Help Webnuz
Referal links:
March 30, 2013 10:14 am GMT
When Sequoia Capital India landed in Singapore, the buzz around town was that a big-name US fund being in the country was going to really jolt the market and provide serious cred to the startups here. The Indian team running operations here, however, appears to have spent the last year of its time in the island state helping its Indian funds expand into Singapore, rather than directly investing in startups here. Singapore is a popular choice as a base for foreign companies looking to expand into Southeast Asia. Early last year, Sequoia Capital India MD, Shailendra Jit Singh, expressed interest in having the funds companies expand into the region. Sequoia Cap in the US also appeared to have been eyeing activity in Singapore for a whileit had its first offsite meeting in the country in 2011, and was in discussion with Singaporean Prime Minister Lee Hsien Loong about its presence here. The Prime Ministers Office oversees its R&D arm, the National Research Foundation (NRF), which has been busy backing local venture capital firms here over the past few years. Its Technology Incubation Scheme is a program that matches funds picked by 11 appointed VCs here, in the proportion of 85 percent to 15 percentthe larger portion dished out by the government. This allows the VCs here to provide bigger sums of seed capital to startups, with much of the risk absorbed by the NRF. Former NRF projects head, Yinglan Tan, was also pulled over to Sequoia Capital Indias team in July last year, where he is now a venture partner based in Singapore. When I ran into Tan in Manila a couple of months ago, he was evasive about the funds theyre looking at in Singapore, but was happy to try to set up meetings with their existing funds in Singaporeall Indian-based startups, except for Airbnb and Evernote. Some of these companies that are being incubated in Singapore by Sequoia Cap include Via, Druva, Mu Sigma, Idea Device and Practo. The meetings never happened, but word on the street is that Tan has been meeting with some Singapore-based startups that are approaching Series A or B in size, and are looking to expand beyond the island. One that I know of provides Wi-Fi infrastructure. As for its current startups here, Via is pretty sizable. It operates a flight booking portal similar to Expedia and Zuji, and has about 1,200 employees,
Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/9RLBrFSLBM8/
Sequoia Capital In Singapore After A Year, Has Yet To Invest In A Local Startup
When Sequoia Capital India landed in Singapore, the buzz around town was that a big-name US fund being in the country was going to really jolt the market and provide serious cred to the startups here. The Indian team running operations here, however, appears to have spent the last year of its time in the island state helping its Indian funds expand into Singapore, rather than directly investing in startups here. Singapore is a popular choice as a base for foreign companies looking to expand into Southeast Asia. Early last year, Sequoia Capital India MD, Shailendra Jit Singh, expressed interest in having the funds companies expand into the region. Sequoia Cap in the US also appeared to have been eyeing activity in Singapore for a whileit had its first offsite meeting in the country in 2011, and was in discussion with Singaporean Prime Minister Lee Hsien Loong about its presence here. The Prime Ministers Office oversees its R&D arm, the National Research Foundation (NRF), which has been busy backing local venture capital firms here over the past few years. Its Technology Incubation Scheme is a program that matches funds picked by 11 appointed VCs here, in the proportion of 85 percent to 15 percentthe larger portion dished out by the government. This allows the VCs here to provide bigger sums of seed capital to startups, with much of the risk absorbed by the NRF. Former NRF projects head, Yinglan Tan, was also pulled over to Sequoia Capital Indias team in July last year, where he is now a venture partner based in Singapore. When I ran into Tan in Manila a couple of months ago, he was evasive about the funds theyre looking at in Singapore, but was happy to try to set up meetings with their existing funds in Singaporeall Indian-based startups, except for Airbnb and Evernote. Some of these companies that are being incubated in Singapore by Sequoia Cap include Via, Druva, Mu Sigma, Idea Device and Practo. The meetings never happened, but word on the street is that Tan has been meeting with some Singapore-based startups that are approaching Series A or B in size, and are looking to expand beyond the island. One that I know of provides Wi-Fi infrastructure. As for its current startups here, Via is pretty sizable. It operates a flight booking portal similar to Expedia and Zuji, and has about 1,200 employees,Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/9RLBrFSLBM8/
Share this article:
Tweet
View Full Article
Techcrunch
TechCrunch is a leading technology blog, dedicated to obsessively profiling startups, reviewing new Internet products, and breaking tech news.More About this Source Visit Techcrunch