Frankfurt / Singapore – April 24, 2009 – Singapore’s National Research Foundation (NRF) has made an investment of SGD 10 million (approx. EUR 5 million) in the Nanostart Singapore Early Stage Venture Fund I. The legal agreements were signed in Singapore in April by Dr. Francis Yeoh, CEO of Singapore’s National Research Foundation, and Marco Beckmann, CEO of Germany’s Nanostart AG. Nanostart is investing an equal sum of SGD 10 million in the fund. Singapore is one of the most active regions for nanotechnology in Asia as well as the world. The new venture capital fund will invest in young, up-and-coming Singapore-based nanotechnology companies to help develop their latest and most promising nanotechnology advances into commercially successful products and processes.
Beckmann sees the new cooperation as being a key driver of Nanostart’s global business over the next few years. “We are looking forward to the opportunity to contribute to the ongoing success of Singapore as a vital center for nanotechnology within Asian. The investment by the NRF opens the door for us to many new options, for both our existing and our future business. We are already talking today about next steps,” added Beckmann.
Dr. Yeoh commented: “The guiding objective is to optimally exploit the high potential of our nanotechnology research and development efforts. We have chosen Nanostart as our partner for this delicate task because of its experience in nanotechnology commercialization and the impressive business expertise which it has already been able to demonstrate right here in Singapore.”
“Singapore has, thanks to massive support by its government over the past few years, one of the most attractive infrastructures within the field of nanotechnology,” remarked Andreas Kröll, Managing Director of Nanostart Asia. “Nanostart has the opportunity here to choose from numerous start-ups with highly promising technologies which may revolutionize a wide range of industries in the coming years. This investment environment is ideal for us.”
Nanostart made its first investment in Singapore back in December 2007 when it took a stake in Curiox Biosystems Pte Ltd, a spin-off of Singapore’s renowned Institute of Bioengineering and Nanotechnology. In April 2008, Nanostart AG went on to establish Nanostart Asia Pte Ltd, a 100%-owned subsidiary for the company’s entire Asian business. In the summer of 2008, Nanostart CEO Marco Beckmann was appointed by the government of Singapore to the prestigious Final Evaluation Panel of its Technology Enterprise Commercialisation Scheme (TECS). TECS awards government funding to Singaporean start-ups as well as small- to medium-sized enterprises within the high-tech sector in order to accelerate their commercial success. Nanostart has thus been able to develop direct access to some of the most promising nanotechnology companies at a very early stage, when valuations are still low.
The Nanostart Singapore Early Stage Venture Fund I marks another first for Nanostart in that it is its first private venture capital fund, with Nanostart AG receiving not only its share of fund profits but also a customary management fee. For the investment phase which is now starting, Nanostart’s team of investment professionals in Singapore has already begun to identify the most attractive nanotech companies and to examine the most promising candidates in greater detail. The first investments are expected to be announced shortly.
About Singapore’s National Research Foundation:
The National Research Foundation (NRF), a agency of the Office of the Prime Minister of Singapore, sets the national direction for R&D within Singapore by developing policies, plans and strategies for research, and by coordinating innovation and entrepreneurial efforts. The NRF funds strategic initiatives and develops R&D capabilities and capacity by nurturing talent from within Singapore and abroad. It coordinates the research agenda of various government agencies with the aim of further transforming Singapore into an innovative, entrepreneurial and knowledge-based economy. For more information on the NRF, please visit www.nrf.gov.sg.
About Nanostart:
Nanostart AG is the world’s leading nanotechnology investment company. The Frankfurt-based company provides venture capital financing for nanotechnology companies in various growth phases. It also provides the benefits of its experience and expertise to developers of financial instruments and to investors in the nanotechnology sector. For further information about the company, please visit www.nanostart.de.
Disclaimer:
This notice constitutes neither an offer to sell nor a solicitation of offers to purchase or subscribe to securities. There will be no public offering of securities of Nanostart AG in conjunction with the existing listing of its shares in the “Entry Standard” segment of the regulated unofficial market (Freiverkehr) on the Frankfurt Stock Exchange. This notice does not constitute a securities prospectus. Neither this notice nor the information contained within is intended for direct or indirect distribution within the United States of America, Canada, Australia or Japan.
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