Singapore VC firm iGlobe starts US$100 million fund for fintech, biotech start-ups

SINGAPORE (BLOOMBERG) - Singapore's IGlobe Partners closed its latest venture-capital fund, which plans to invest US$100 million (S$132.3 million) in start-ups focusing on synthetic biology, fintech and technologies for smart cities. The firm's fourth fund, IGlobe Platinum Fund III, will back 15 to 20 start-ups across the US, Europe and Southeast Asia to fund their growth over the next three years, according to a statement from the company on Thursday (June 3). IGlobe, with a history of more than two decades, is betting on emerging trends in health care and technology to fuel its growth. The new fund, which was oversubscribed, will back start-ups including cancer diagnostic service C2i Genomics and personal finance start-up NerdWallet in the US as well as Singapore-based Docquity, a mobile app for doctors, and Tonik, a digital bank in the Philippines. "We focus on cross-border deep tech, which other people can't easily copy," IGlobe founder Koh Soo Boon said in an interview. "We are in the business of building companies, rather than just making a quick buck." Ms Koh started IGlobe in Silicon Valley in 1999 and moved its headquarters to her native Singapore a decade later. The firm ...