This article was first published on DealStreetAsia on June 27, 2016.
Singapore-based Fundnel Limited has entered into an partnership with BANSEA ONE, an investment vehicle formed by members of the Business Angel Network Southeast Asia (BANSEA), to boost early-stage investment in Singapore’s startup ecosystem.
BANSEA ONE is a pioneer initiative backed by members of BANSEA, a leading association for the development of the angel investment community in Southeast Asia, and Fundnel, Asia’s first collaborative investment platform.
The investment vehicle will act as a key investor focusing on early-stage companies in Singapore.
In a statement, Fundnel explained that the partnership pools together resources to boost deal flow and investment opportunities on it’s platform. Through that, it allows creation of synergies across the startup value chain where it serves as a platform to fuel growth of quality enterprises.
Fundnel co-founder Kelvin Lee said BANSEA’s participation is an endorsement of it’s capabilities to value-add to startups.
“By combining BANSEA’s stringent due diligence processes alongside our curation, we are confident of assisting start-ups in achieving their growth trajectory and potential. Angel investment plays an integral role in the development of a sustainable startup ecosystem as it not only provides funding at the critical stage, but also offers mentorship and advisory to guide startups to reach their growth phase. As a result, this is a great opportunity to tap onto BANSEA’s extensive network and collaborate with industry veterans to lead the funding of deals on our established platform,” he said.
BANSEA vice chairman Julien de Salaberry noted that the formation of BANSEA ONE will give BANSEA members the ability to pool their financial resources to invest in early-stage startups while diversifying risks.
“In addition, the ability to leverage Fundnel’s deal flow gives us prime access to invest in a wider selection and variety of startups within the region. We believe that our new member investment vehicle enabled by this partnership will provide us with the opportunity to act as a greater catalyst within the ecosystem. We look forward to this fruitful collaboration with Fundnel to discover and fund successful deals,” he said.