US hospital operator Cedars-Sinai launches Singapore venture unit
Its innovation unit has also entered a co-investment partnership with Enterprise Singapore’s Seeds Capital
Sharanya Pillai &
Wu Xinyi
US-BASED healthcare player Cedars-Sinai Medical Centre has launched a new Singapore-based venture unit to invest in early-stage healthcare and biomedical science startups in the country.
Called Coronet Ventures, the unit plans to make equity investments in 12 to 15 Singapore startups over the next five years, with cheque sizes ranging from US$100,000 to US$3 million. It will look at deals in the pre-seed, seed and Series A stages.
“At the moment, we’re looking to focus just on Singapore, and the reason for that is the ecosystem here is very similar, and very synergistic with what we have in the US,” Coronet’s chief executive Nirdesh Gupta told The Business Times in an interview on Thursday (May 25).
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