Global energy giant Engie pulling out of startups in Singapore and the region
It is offering all its interests held through an Asia-Pacific VC unit for sale
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[SINGAPORE] French multinational energy giant Engie has moved to sell its startup stakes in Singapore and the region.
The Paris and London-listed company has extended an offer to its partner investors to buy all its interests in the startups held via venture arm Engie Factory in Apac (EFAP). Alternatively, the group may also divest EFAP in its entirety.
A source told The Business Times on Wednesday (Jan 21) that the move could impact several early-stage technology companies in the region, including Table Pointer and Get Solar in Singapore, and Verta Bioenergy in the Philippines.
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