"The Singapore government will set aside $74 million (S$100 million) for investments in small and medium-sized enterprises (SMEs) under its SME Co-Investment Fund III, Finance Minister Heng Swee Keat announced on Monday.
Delivering the city-state’s budget for 2019, the minister said the fund will co-invest in startups to help them scale and internationalise. Temasek Holdings will be a co-investor in the fund, which will be managed by Heliconia Capital Management.
Qualifying companies are required to have their key management functions and headquarters based in Singapore and have revenues of up to $368.4 million (S$500 million)."
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