MOL start-up arm partners with Singapore government-linked fund
The partnership with the investment arm of Enterprise Singapore, enables MOL Plus to strengthen its investment structure in tech startups in Singapore
Move will help develop Singapore’s technology ecosystem. Singapore startups will be able to tap MOL Plus’ networks in Japan to access investors and business opportunities
THE investment arm of Mitsui OSK Lines, MOL Plus, has been appointed a co-investment partner of Singapore government-linked fund Seeds Capital.
The partnership with the investment arm of Enterprise Singapore enables MOL Plus to strengthen its investment structure in tech start-ups in Singapore and aims to develop Singapore’s tech ecosystem, MOL Plus said in a press release.
In turn, Singapore start-ups will be able to tap on MOL Plus’ networks in Japan to access investors and corporates for investment and business opportunities.
In addition, MOL Plus will also support foreign technology start-ups seeking to enter the Singapore market. MOL is the third Japanese investor to be appointed under this co-investment programme, in which partners are chosen based on various considerations.
Other prominent co-investors of Seeds Capital in the maritime tech space are PSA unboXed and Innoport, the venture capital arm of the Schulte Group.
As part of its strong involvement in Singapore, MOL has promoted initiatives and activities with the Singapore government and has been moving to strengthen its ties with Singapore.
Recent initiatives include the signing of a Memorandum of Understanding for comprehensive co-operation with the Maritime and Port Authority of Singapore.
