Enterprise SG's SEEDS Capital joins co-investment partnership
Startups will receive funding to access Cedars-Sinai's clinical resources.
Enterprise Singapore's investment arm SEEDS Capital, through Coronet Ventures, has partnered with Cedars Sinai Intellectual Property Company (CSIP) for a co-investment partnership.
Under the Startup SG Equity scheme, the co-investment partnership will invest in the country's healthcare and biomedical startups.
CSIP is the Cedars-Sinai Medical Centre's innovation arm.
The funding they receive would allow them to tap into the medical centre's clinical resources, such as exposure to research infrastructure and resources for clinical test-bedding.
The partnership will also allow the startups to benefit from mentorship opportunities from world-leading physicians, researchers, and other global healthcare entrepreneurs.
Over the next five years, Coronet Ventures aims to invest US$50m ($67.6m) in 12 to 15 Singapore startups.
Jeffrey Siow, Chairman of SEEDS Capital and Managing Director of Enterprise Singapore, said the co-investment partnership "will extend Singapore's presence in the US healthcare and startup ecosystems and give our startups a head-start to build track records and hopefully create global social impact."
Disclaimer: The article has been amended to remove inaccurate information. The factual information is highlighted in bold.