Seeds Capital

Venture Capital / Deep Tech Co-Investmentseedscapital.sg

Seeds Capital is the investment arm of SG Growth Capital, a Singapore government entity under Enterprise Singapore. It co-invests with more than 50 partners into early-stage Singapore-based deep tech startups across five themes, having deployed over S$250M into 160+ companies since 2017.

Company typePrivate
Founded1992
HeadquartersSingapore, Singapore
Headcount1–10
GTM typeB2B
OfferingServices

What Seeds Capital does

Seeds Capital is the investment arm of SG Growth Capital Pte. Ltd., a Singapore government entity operating under Enterprise Singapore. Established in 2017, the firm functions as a co-investment catalyst that deploys government-backed capital alongside independent investors into Singapore-based early-stage deep tech startups. Its mandate covers five investment themes: Advanced Manufacturing & Engineering, Agrifood Tech, Health & Biomedical Sciences, Maritime Tech, and Urban Solutions & Sustainability. Rather than operating a traditional venture fund with LP capital, Seeds Capital is structured as a co-investment fund manager that pairs its own allocations with a network of more than 50 appointed co-investment partners, including regional VCs (Monk's Hill Ventures, Wavemaker Partners, Tin Men Capital), global investors (Vulcan Capital, Granite Asia, Kurma Partners), and strategic corporates (Cedars-Sinai, Louis Dreyfus Company, Olam Food Ingredients).

Since inception, Seeds Capital has deployed more than S$250 million and backed more than 160 companies, with the current active portfolio exceeding 150 companies. The co-investment model has catalyzed more than S$1.12 billion in additional private sector funds, yielding an effective leverage ratio of roughly 4.5x on government capital. The firm does not sell commercial products or services; its 'revenue' derives from equity participation in portfolio companies and is not publicly disclosed. Operationally, it is a lean team of 11-50 employees based in Singapore, headed by General Manager Kaixin Tan with Cindy Khoo as Chairman, and operates with an explicit exclusion of Greater China from its geographic mandate while spanning Southeast Asia, Oceania, the UK, and the US.

Strategic momentum has accelerated since the August 2024 formation of parent SG Growth Capital, followed by the February 2025 appointment of 20 new co-investment partners targeting at least S$300 million of catalyzed investment. Active 2025-2026 deployment includes Respiree ($11.6M Series A), Polybee ($4.3M seed), Datakrew ($2.6M Pre-Series A), Groundup.ai ($4.25M Series A), ION Mobility ($3.3M seed), and AMILI ($10.5M Series A). The firm was recognized by Tech In Asia as one of the most active VCs in Singapore.

Seeds Capital firmographics

Firmographics

Name: Seeds Capital
Legal name: SEEDS Capital Pte. Ltd.
Website: https://www.seedscapital.sg/
Company type: Private
Founded year: 1992
Operating status: Operating
Headcount range: 1–10 employees
Short description: Seeds Capital is the investment arm of SG Growth Capital, a Singapore government entity under Enterprise Singapore. It co-invests with more than 50 partners into early-stage Singapore-based deep tech startups across five themes, having deployed over S$250M into 160+ companies since 2017.
Ownership category
akta.pro rank

Seeds Capital industry classification

Industry

Product category: Venture Capital / Deep Tech Co-Investment
NAICS: All Other Financial Investment Activities (52399), Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523)
SIC: Investors, Nec (6799)
akta.pro primary industry: Early-Stage Venture Capital (Pre-Seed/Seed) (FSANAAAA)
akta.pro secondary industries: Early-Stage Venture Capital (Series A/B) (FSANAAAB), Geography-Focused Venture Capital (Regional/Emerging Markets) (FSANAAAE)

Keywords

Venture capital investing
Deep tech co-investment
Early-stage startup funding
Government-backed investment
Singapore startup capital

Where Seeds Capital is headquartered

Location

Headquarters

HQ city: Singapore
HQ country: Singapore
HQ region: Asia

Offices1 record

Markets served

Seeds Capital business model

Business model

GTM type: B2B
Offering type: Services
Cost components: Personnel, Operations, Marketing or Sales, Infrastructure

Revenue model

Investment Returns: Seeds Capital generates returns through equity investments in deep tech startups via its co-investment model, catalysing private sector investment into Singapore-based early-stage companies.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels5 records

Seeds Capital product offering

Product offering

Core offering

SEEDS Capital is the co-investment arm of SG Growth Capital that deploys catalytic equity capital into Singapore-based early-stage deep tech startups alongside appointed independent co-investors. Investment is concentrated across five themes: Advanced Manufacturing and Engineering, Agritech and Foodtech, Health and Biomedical Sciences, Maritime Tech, and Urban Solutions and Sustainability.

Product overview

Seeds Capital is the co-investment arm of SG Growth Capital, a Singapore government investment entity. It does not offer a product or service to external customers. Rather, it operates an investment mandate focused on stimulating private sector investments into Singapore-based deep tech startups through a co-investment model. The organization deploys capital across five investment themes: Advanced Manufacturing and Engineering, Agritech and Foodtech, Health and Biomedical Sciences, Maritime Tech, and Urban Solutions and Sustainability. Seeds Capital works with appointed co-investment partners and provides funding to early-stage deep tech companies through its portfolio.

Differentiator

Problem solved

Functional benefit

Products and services

Singapore Deep Tech Co-Investment Programme Catalytic equity capital deployed into Singapore-based early-stage deep tech startups alongside a network of more than 50 appointed independent co-investors. Investment is concentrated across five themes: Advanced Manufacturing and Engineering, Agritech and Foodtech, Health and Biomedical Sciences, Maritime Tech, and Urban Solutions and Sustainability. The programme targets founders of early-stage Singapore deep tech companies that align with these thematic areas.

Quantifiable outcome

Over S$250M deployed into Singapore deep tech startups since 2017
+3 more outcomes

Companies that use Seeds Capital

Customer profile

Segments5 records

Ideal customer profiles1 record

Seeds Capital technology and API

Technology

Technology focussed No

API detail

Has API: No
API docs
API detail

Core technology

AI maturity

App detail

Seeds Capital partnerships and signals

Strategic signal

Partnerships

One partnership is on record.

Cedars SinaiflagshipStrategic or Co-development Partner · 25 May 2023Cedars Sinai Sets up its first co-investment partnership with SEEDS Capital in Singapore. This partnership marks Cedars Sinai's inaugural co-investment initiative in Singapore, focusing on health tech investments.

Scale indicators5 records

Recent moves6 records

Expansion highlights4 records

Seeds Capital competitors and assessment

Company assessment

Direct peers

SGInnovate: Singapore government-linked deep tech investor focused on early-stage science- and technology-based startups across sectors overlapping with Seeds Capital's five themes. Most directly comparable as another state-backed deep tech capital provider in Singapore.
Vertex Ventures: Long-established Singapore-headquartered VC with multiple sector and stage funds, frequently co-investing alongside Seeds Capital (e.g., in TurnKey Lender). Directly comparable as a Singapore-based early- and growth-stage VC.
Monk's Hill Ventures: Singapore-focused early-stage VC investing across Southeast Asia. Frequently leads and co-invests with Seeds Capital (e.g., ION Mobility), directly comparable in stage, geography, and co-investment orientation.
Wavemaker Partners: US- and Singapore-based early-stage VC with deep tech and enterprise focus. Active co-investor with Seeds Capital (e.g., Mushroom Material, Groundup.ai), comparable on stage and sector overlap.
500 Global: Global early-stage VC with a strong Southeast Asia presence. Co-invests alongside Seeds Capital (e.g., Datakrew, ION Mobility), comparable in seed/Series A stage and SEA geographic focus.
Beenext: Singapore-anchored early-stage VC focused on India and Southeast Asia. Active co-investor with Seeds Capital (e.g., Datakrew), comparable on stage and SEA geography.
Tin Men Capital: Singapore-based B2B-focused early-stage VC that leads and co-invests with Seeds Capital (e.g., led Groundup.ai's Series A). Comparable on Singapore focus and early-stage orientation.
ClavystBio: Singapore-based life sciences investor launched by Temasek-backed CLA Real Estate Holdings. Co-invests with Seeds Capital in Health & Biomedical Sciences deals (e.g., Respiree), comparable on Singapore geography and biomedical sub-vertical.
Openspace Ventures: Singapore-based early- and growth-stage VC focused on Southeast Asia. Comparable in geography, stage, and the practice of leading/co-investing in Singapore-headquartered deals.

Broad incumbents

Temasek: Singapore state-owned investment company with deep tech and growth-stage exposure across Asia. Comparable as a Singapore sovereign investor with overlapping deep tech interests (e.g., Amperesand), though operating at much later stages and across a far broader portfolio.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

Seeds Capital financial estimates

Financial estimate

Revenue estimate

Valuation estimate

Seeds Capital leadership team

Management profile

Number of profiles

Profiles2 records

Seeds Capital funding detail

Funding detail

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

Seeds Capital M&A and investment

M&A and investment

M&A

Investments150 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Seeds Capital

What does Seeds Capital do?

Is Seeds Capital a public or private company?

Seeds Capital is a private company. It is classified as state government owned and is currently operating.

When was Seeds Capital founded?

Seeds Capital was founded in 1992. It employs 1 to 10 people.

Where is Seeds Capital based?

Seeds Capital is headquartered in Singapore, Singapore, in the Asia region.

How does Seeds Capital make money?

One revenue line is on record: investment Returns.

Who are Seeds Capital's main competitors?

Direct peers on record are SGInnovate, Vertex Ventures, Monk's Hill Ventures, Wavemaker Partners, 500 Global, Beenext, Tin Men Capital, ClavystBio and Openspace Ventures. Temasek is listed as a broad incumbent.

Does Seeds Capital have an API?

No public API is recorded for Seeds Capital.

What industry is Seeds Capital in?

Seeds Capital's product category is Venture Capital / Deep Tech Co-Investment. Its primary akta.pro industry code is FSANAAAA, Early-Stage Venture Capital (Pre-Seed/Seed), with a secondary code of FSANAAAB, Early-Stage Venture Capital (Series A/B). Its NAICS code is 52399 and its SIC code is 6799.