Trendlines to launch agrifood tech centre in Singapore, invest in start-ups through US$40 mil fund
SINGAPORE (Dec 18): The Trendlines Group announced Tuesday it plans to open a Singapore-based innovation centre focused on developing agrifood technologies.
In addition, Trendlines says it wants to raise a US$40 million venture fund to support the new investment activity, and act as the new fund’s general partner.
However, no definitive agreements have been entered into at this point.
The new Trendlines’ agrifood tech centre aims to leverage technological and scientific knowledge in Singapore and the region with Trendlines’ experience and know-how in investing in and building companies.
This is with the goal of accelerating technology development and investment in Southeast Asia’s agrifood supply chain.
The centre will operate on two parallel tracks: creating new, innovation-based, agrifood tech companies in Singapore; and investing in foreign agrifood companies establishing their Asia-Pacific (APAC) headquarters in Singapore with Trendlines’ support.
“Expanding our activities in Singapore into agtech allows us to expand and develop the agrifood tech ecosystem in the country while broadening our activities and managing new capital without dilution to our shareholders,” says Steve Rhodes, Trendlines’ chairman and CEO.
Shares in Trendlines closed 2.0% lower at 9.9 cents on Tuesday.
