CATALIST-LISTED startup incubator The Trendlines Group has received conditional commitments of up to US$22 million for its new Singapore-based venture fund, Trendlines Agrifood.
The conditional investment commitments were made by Temasek, Librae Holdings - which is an entity related to UK business tycoon Vincent Tchenguiz - and an additional South-east Asian investor, it said. Trendlines, via its wholly-owned subsidiary, Trendlines Agrifood Innovation Centre, will act as the fund's manager.
The amount of up to US$22 million includes the commitment previously reported in July, when it announced a S$10.88 million injection from Librae. The fund will invest in new, innovation-based agrifood tech companies in Singapore as well as foreign agrifood firms. It will set up its Asia-Pacific headquarters in Singapore.