Sino in US$40m start-ups venture with Singapore

Sino Group's fledgling technology arm has announced plans to set up an incubation fund to invest in high-technology start-ups in conjunction with Singapore's National Science and Technology Board (NSTB).

SinoTech and its partners will invest up to US$40 million with the NSTB contributing a further $10 million from the Singapore Government's $1 billion Technopreneurship Investment Fund.

The venture-capital fund will co-invest in promising young technology orientated companies in Singapore, other parts of Asia and the United States.

SinoTech chairman Robert Ng Chee Siong said: 'Singapore is moving fast in the direction of creating a vibrant venture capital industry to help stimulate the creation of a sustainable high-growth economy in Asia.' Mr Ng said SinoTech would set up a Singapore office by May to manage the fund.

TECHNOLOGY