Meet Fuel Ventures: Finalists for UK Impact in Singapore and Business Transformation of the Year in our Annual Business Awards
What's made them Finalists
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Having launch Fuel Ventures Asia, a lab centre to serve as a hub for the company's seven portfolio companies, Fuel Ventures aim is to provide them with the resources they need to drive growth and expand their reach in the Asia market. Built around a unique joint venture model, where Fuel Ventures will partner with its portfolio companies and Singaporean investors to support growth and innovation efforts, this strategic set up allows high-potential startups to effectively enter and commercialise in Singapore and the rest of Asia. Under this unique operating model, the organisation aims to springboard all five companies to successful exits within two to three years. This will be achieved through a variety of exit options, including the option to IPO on Singapore Exchange, all of which are expected to yield attractive returns.
Expansion into Asia - Singapore Hub
Fuel Ventures Asia was launched as a lab center to serve as a launchpad for selected portfolio companies to enter Asia market. In July 2023, Fuel Ventures Asia was launched as a cutting-edge lab center situated in Singapore's dynamic business environment. The centre, poised to act as a crucial hub for their five to seven select portfolio companies, who already demonstrated strong results in Europe, supplying them with indispensable resources to fuel growth and amplify their footprint within the Asian market.Â
Growing Businesses and the Team
In addition to being staffed by a committed team of 20-30 members, this lab center adopts an innovative joint venture model. This unique venture builder model collaborates with its portfolio companies and investment partners, fostering growth and innovation while preserving each company's autonomy. This lab center is uniquely equipped to provide essential resources, enabling our portfolio companies to fortify their regional presence and achieve their ambitious growth targets. To qualify for this unique opportunity, companies need to have a robust business model, have cleared at least Series A funding, and demonstrate a compelling strategy for the Asian market.
Europe-Asia Technology Summit in SingaporeÂ
On the 3rd of July, Fuel Ventures took part in the the Europe-Asia Technology Summit in Singapore. Uniting trailblazers like the Singapore Economic Development Board (EDB), Zhongguancun International Holdings, IFIM at the National University of Singapore, Franklin Medici Group, and the British Chamber of Commerce in Singapore -Â participants delved into investment trends, market strategies, financing and other innovations that were shaping the future of tech, engaging in groundbreaking discussions directed at nurturing a thriving tech ecosystem between Asia and Europe.Â
Fuel Ventures have also closed their FV Global Fund I to support the growth of the lab centre and portfolio companies. Through this process they have established strong local partnerships with organisations such as the NUS Institute for Functional Intelligent Materials and Zhongguancun International holdings and they are currently in the midst of setting up local entities for all their portfolio companies. With plans to expand their team by 20-30 people, they are looking for new Go-to-market strategies for each of the portfolio companies.