EDBI and SEEDS Capital have coordinated and aided the funding of approximately $200 million (US $147.26 million) by 25 Singapore-based technology companies under the Special Situation Fund for Firms (SSFS). When the funds are entirely committed, or by October 31, 2021, the SSFS support will come to an end.
Over the next three years, the funds will be used to assist these companies to grow their market and create new products.
To help high-potential firms sustain their growth momentum throughout the epidemic, EDBI and SEEDS Capital created the SSFS investment programme in June of last year to address cash flow and fundraising difficulties. Over 1,200 employment are created by the 25 companies, which operate in a variety of areas such as e-commerce, edutech, enterprise technology, finance, healthcare, and tourism.