Singapore’s Nanyang Technological University (NTU) has collaborated with venture capital firm Walden International to establish a VC fund.

The VC fund, named the Nanyang Frontier Fund, was launched Monday by Singapore’s deputy prime minister Heng Swee Keat.

“The Nanyang Frontier Fund is Singapore’s first venture capital fund dedicated to a university,” according to its press release issued Monday.

The fund aims to support deep tech spin-offs from the university, seeking to raise an initial S$50 million (around US$37.9 million).

Walden International’s chairman Tan Lip Bu and his associates are committing to invest S$5 million (around US$3.7 million) to kickstart the fund, with the NTU co-investing another S$5 million.

Recent “Walden International” developments