CapitaLand to co-invest in early-stage venture fund for startups

SINGAPORE property developer CapitaLand is throwing its hat into the venture-capital ring.

It has been selected to co-invest in the Early Stage Venture Fund III Scheme (ESVFIII) by the National Research Foundation (NRF), the mainboard-listed group said in a press release on Tuesday.

Under this programme, CapitaLand will invest in Singapore's technology startups "with innovations that will complement and enhance its business - from design and construction, operations and maintenance, sales and leasing, customer engagement, to workplace productivity and smart living solutions", it said.

The group said it would give startups the opportunity to test their solutions in its properties across the world. Its senior executives will provide advice and mentorship, it added.

The NRF is a department in the Prime Minister's Office of Singapore.