Hellenic Shipping News
ShipsFocus and Quest Ventures announce the launch of Maritime Fund. The first close of the fund at just over SGD 10 million (USD 7.5 million) is a significant milestone for the maritime industry. The maritime industry enables 90% of world trade. The early-stage maritime-tech market, already at USD 100 billion, is poised to triple by 2030.
Mr. Chua Chye Poh, Founder of ShipsFocus and a General Partner of the Maritime Fund said, “The Maritime Fund is a strategic part of the ShipsFocus venture studio model to invest in one of the most untapped opportunities of our lifetime. Recent technological advances enable us now to solve some of the world’s most entrenched maritime and supply chain problems in ways not possible before. The time is now!”
Mr. James Tan, Managing Partner at Quest Ventures said, “Singapore’s position in the maritime space is further strengthened with the launch of the Maritime Fund. Our Quest Ventures ficant differentiation from generic venture funds.” Quest Ventures, in partnership with ShipsFocus, is one of SEEDS Capital’s appointed co-investment partners in the maritime sector. SEEDS Capital is the investment arm of Enterprise Singapore, the government agency championing enterprise development.
Ms. Tan Kaixin, General Manager of SEEDS Capital, said, “The maritime sector is a critical part of Singapore’s economy. The growth of relevant tech startups in this area will help strengthen the sector’s capabilities and address the efficiency and sustainability issues as the industry transforms. SEEDS Capital is pleased to support ShipsFocus and Quest Ventures in their debut fund to catalyse investments into deep tech startups that can provide innovative solutions in this sector.”