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.