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Singapore’s Infocomm Investments extends USD200m fund to European tech start-ups

Singaporean venture capital firm Infocomm Investments has launched in London and is extending its USD200 million fund to European tech start-ups.

At a launch event held at Central London’s Southbank Centre, the chairman of Infocomm Investments and executive deputy chairman of Infocomm Development Authority of Singapore, Steve Leonard, announced the fund’s first investment in Europe into the FinTech accelerator, Startupbootcamp FinTech. 
 
Leonard says: “There are many smart cities around the world, but Singapore is building itself into a smart nation.  This means we want to use exciting new technologies to better serve citizens of all ages and companies of all sizes.  London is a cool city with lots of hot start-ups. We know that by being in London, we can both learn from – and contribute to – the ecosystems in both places.
 
“Because Singapore is a strong start-up hub in Asia, we want to bring our great start-ups to London.  Singapore and London are natural partners, and we see London as our gateway into Europe, and we want London to see Singapore as the best gateway to the booming Asian markets.”
 
Infocomm Investments’ strategic investment into Startupbootcamp FinTech will give it the opportunity to land its successful FinTech London accelerator programme in Singapore. With a global pool of over 750 mentors who provide value through coaching and unique connections to customers, partners and investors, Startupbootcamp FinTech will play an integral role in building a strong pipeline of highly innovative and scalable FinTech start-ups in Singapore. Infocomm Investments will also offer Asian market-centric mentoring for London-based tech start-ups under Startupbootcamp FinTech’s extensive portfolio. 
 
Carsten Kølbek, co-founder of Startupbootcamp FinTech, says: “We are very honoured to be the first investment of Infocomm Investments in Europe. We value the unique Asian market expertise that Infocomm Investments brings to our FinTech London programme. There is a clear upward trend in the quality and innovation level of FinTech start-ups across Asia over the past year, in tandem with the growing global demand for new financial services innovation. We look forward to riding this wave and bringing our success in building great Fintech start-ups to Asia.”
 
With its new presence in London, Infocomm Investments is looking to partner with accelerators to grow its network within the UK and Europe, and to co-invest with other leading venture capitalists in high growth, innovation-driven tech start-ups.
 
Infocomm Investments’ European operations will be led by Zach Tan. With strong background in tech entrepreneurship and investments and a good flavour of the European market, his role will be to work with partners like Startupbootcamp FinTech and London’s wider investor and technology community to identify collaboration opportunities and businesses viable for growth in Singapore and Asia.

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