EDBI’s long-time chief leaving to start own fund
CHU Swee Yeok, the chief executive officer of the investment arm of the Singapore Economic Development Board (EDB), is leaving after nearly 14 years to raise her own fund, said people with knowledge of the matter.
The fund’s focus will potentially be on later-stage technology and healthcare, the sources added.
Chu joined EDBI in 2009 and oversaw its direct investments in early- to high-growth sectors, mature companies and funds in areas of strategic importance for Singapore. Under her watch, the organisation backed companies such as mRNA vaccine maker Moderna, TikTok owner ByteDance and South-east Asian firms Grab and GoTo.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Startups
OpenAI, Reddit sign partnership on ChatGPT, AI products, ads
OpenAI co-founder Ilya Sutskever departs ChatGPT maker
Sea posts US$23 million Q1 loss, but investors cheer Shopee’s record revenue
Uber to buy Delivery Hero’s Taiwan business for US$950 million
SoftBank sells off Vision Fund assets as Son pivots to AI, chips
Battery swapping faces uphill climb in Singapore’s EV market