Singapore-based global investor EDBI and SEEDS Capital (SEEDS) will be merged to form a new government investment entity called SG Growth Capital Pte Ltd.

This brings together the investment expertise and networks of EDBI and SEEDS, to support the growth of innovative enterprises and anchor key operations and capabilities in Singapore, EDBI said in a statement on last Friday.

According to the statement, the change will take place on April 1, 2025.

It is noted that over the past decades, EDBI and SEEDS have each built a strong track record of catalyzing and contributing to Singapore’s economic development through their investments.

EDBI has attracted and anchored foreign growth-stage companies and nurtured tech-centric local companies, while SEEDS has grown the local startup ecosystem, and worked with private funds to catalyze support for Singapore-based, early-stage technology startups.

According to the statement, SG Growth Capital will better leverage EDBI’s and SEEDS’ expertise and networks to grow their portfolio companies.

It noted there will be more collaboration opportunities between local and foreign companies.

This will also enable SG Growth Capital to develop deeper expertise in startup financing, venture building and deep tech areas, it added.

Under SG Growth Capital, EDBI and SEEDS will continue to work closely with Singapore Economic Development Board (EDB) and Enterprise Singapore to ensure that their investment focus remains aligned to the economic priorities of both agencies.

Png Cheong Boon, Chairman of EDB, will chair the Board of SG Growth Capital with Cindy Khoo, Managing Director, Enterprise Singapore as Deputy Chair of the Board.

Choo Heng Tong, Executive Vice-President of EDB, will hold the concurrent appointment of SG Growth Capital’s Chief Executive Officer (CEO).

Paul Ng, EDBI Chief Executive Officer, and Tan Kaixin, General Manager SEEDS Capital, will continue to lead EDBI and SEEDS divisions respectively under SG Growth Capital.

EDB is a government agency under the Ministry of Trade and Industry in Singapore.

The agency is responsible for strategies that enhance Singapore’s position as a global center for business, innovation, and talent.

EDB undertakes investment promotion and industry development, and work with international businesses, both foreign and local, by providing information, connection to partners and access to government incentives for their investments.

Its mission is to create sustainable economic growth, with vibrant business and good job opportunities for Singapore and Singaporeans.

Enterprise Singapore is the government agency championing enterprise development.

The agency works with committed companies to build capabilities, innovate and internationalize.

It also supports the growth of Singapore as a hub for global trading and startups, and build trust in Singapore’s products and services through quality and standards.

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