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Roehl Niño Bautista · · 1 min readTemasek commits $740m for yearly deep-tech investments
“Singapore investment firm Temasek will pump S$1 billion (US$740 million) a year into deep tech investments across a range of domains,” reported The Business Times.
Details:
- Deputy Prime Minister Heng Swee Keat said some of the industries that the firm will focus on include advanced manufacturing, disruptive materials, net-zero tech, life sciences, and foodtech.
- Temasek told The Business Times that this fund is part of the firm’s annual allocation for innovation.
Dive deeper:
- It takes much longer to exit from deep-tech firms compared to startups in other spaces, said the report.
- The Singapore government earlier pumped S$300 million (US$222 million) into the Startup SG Equity scheme specifically for deep-tech firms.
Currency converted from Singapore Dollar to US Dollar: US$1 = S$1.35.
Editing by Miguel Cordon and Lorenzo Kyle Subido
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