English | 简体中文 | 繁體中文 | 한국어 | 日本語
Friday, 18 June 2021, 17:00 HKT/SGT
Share:
    

Source: IMC Ventures
IMC Ventures Partners with PIER71 to Invest and Nurture the Maritime and Supply Chain Ecosystem in Singapore

Singapore, June 18, 2021 - (ACN Newswire) - IMC Ventures ("IMC Ventures"), a Singapore-based venture capital firm focused on investments in the maritime and supply chain industries, is pleased to announce that it has joined PIER71 as a venture capital partner with an objective to invest and nurture the maritime and supply chain ecosystem in Singapore.

With a vision to establish Singapore as a vibrant maritime ecosystem spearheading world-class innovation, the founding partners of PIER71 are Maritime and Port Authority of Singapore ("MPA") and NUS Enterprise, the entrepreneurial arm of the National University of Singapore ("NUS").

Bringing together a community of stakeholders who are keen to digitalise and create the next wave of maritime innovation, PIER71 designs and delivers programmes to uncover opportunities within the maritime industry by providing access to markets, demand drivers, technology solution providers, investors and more.

With an aim to create a positive environmental and social impact via investments in the maritime & logistics industries, IMC Ventures was established by IMC Industrial Group ("IMCIG") to focus on creating sustainable returns and operational synergies between start-ups and IMCIG's business units by enabling these start-ups to scale through access to its network of customers, infrastructure and resources.

IMC Industrial Group (IMCIG) is a leading integrated industrial company providing logistics, shipping, shipyard management and engineering, procurement, construction (EPC) services to our customers while creating long-term value for our shareholders.

"The ethos of PIER71 is every much aligned with IMC Ventures. We are looking to catalyse the start- up scene in Singapore by not just providing capital to enable these new innovative ventures to scale, but also to value add through synergies with our operating businesses in the maritime and logistic space," said Mr. James Ong, Investment Committee Member of IMC Ventures.

With this partnership, there are significant opportunities for the start-ups under PIER71 to leverage on IMC Ventures' in-depth market experience, specialised technical knowledge and vast industry networks to test-bed and deploy their ideas and innovations within the global maritime and supply chain ecosystem.

In addition, IMC Ventures will be exploring investments within PIER71's network and to initiate more cooperation and collaboration efforts to accelerate the development and adoption of market- disrupting solutions. This will be a boost for more improvements and enhancements within the maritime and supply chain ecosystem as a whole, thereby making a meaningful contribution to the environment and communities as a whole.

Mr. Thomas Ting, Chief Technology Officer, Maritime and Port Authority of Singapore said: "We are heartened by the partnership of like-minded ecosystem players like IMC Ventures with PIER71 and MPA. As we grow Singapore to become a leading hub for marinetech (maritime technology) start- ups, investments from private sector will be key.

In particular, venture capitalists with deep maritime expertise will be highly beneficial to the entire innovation ecosystem. I'm confident that IMC Ventures will bring their deep industry knowledge and networks to help marinetech start-ups commercialise and scale."

Mr. Ryan Chan, Group Managing Director of IMC Industrial Group added: "IMC Ventures adds value to IMCIG as it allows ownership in ventures that brings value to our business and opens up possible opportunities to collaborate in setting the direction of innovative ideas in start-ups for various new technologies we are exploring. We will offer the capabilities and access to our shipping platform as partners to the right candidates.

With IMC Ventures partnering with MPA and PIER71, we are further building on the close partnership between IMC and MPA, to reaffirm our commitment to the future success and development of Singapore's maritime hub."

About IMC Ventures

With an aim to create a positive environmental and social impact via investments in the maritime & logistics industries, IMC Ventures was established by IMC Industrial Group ("IMCIG") to focus on creating sustainable returns and operational synergies between startups and IMCIG's business units by enabling these startups scale through access to its network of customers, infrastructure and resources.

IMCIG is part of Singapore-headquartered IMC Pan Asia Alliance Group which is actively invested in a diverse portfolio of investments covering shipping, ports, resources, real estate, investment management and lifestyle industries across the globe. With a business heritage dating back to early 1900s involving shipping and transportation activities, IMC Pan Asia Alliance Group has evolved across the decades and it currently employs more than 9,000 people in 15 countries with major presence in China, Indonesia and Thailand.

Issued on behalf of IMC Ventures by 8PR Asia Pte Ltd.
Media Contact:
Mr. Alex TAN
Mobile: +65 9451 5252
Email: alex.tan@8prasia.com

Topic: Press release summary
Source: IMC Ventures

Sectors: Daily News, PE, VC & Alternatives, ASEAN, Marine & Offshore, Local Biz
https://www.acnnewswire.com
From the Asia Corporate News Network


Copyright © 2021 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.

 

Latest Press Releases
XanPool, Payments Infrastructure Builder, Secures US$27M to Consolidate Presence in APAC and Expand Service Offerings  
Oct 22, 2021 20:00 HKT/SGT
New Carriages for AGT System in Hiroshima Win "GOOD DESIGN AWARD 2021"  
Oct 22, 2021 17:14 HKT/SGT
Initiative to Enhance Cooperation of China and Central Asian Countries Concludes  
Oct 22, 2021 17:00 HKT/SGT
Habitat for Humanity's Terwilliger Center for Innovation in Shelter Leads Transformational Investment to Increase Affordable Housing in India  
Oct 22, 2021 15:42 HKT/SGT
AppsFlyer Launches SKAdNetwork Ranking for the New Privacy Era in Latest Performance Index; Xiaomi is Fastest-growing Media Source in Southeast Asia  
Oct 22, 2021 10:00 HKT/SGT
AppsFlyer Launches SKAdNetwork Ranking for the New Privacy Era in Latest Performance Index; Xiaomi is Fastest-growing Media Source in Southeast Asia  
Oct 22, 2021 10:00 HKT/SGT
Eco Expo Asia opens on 27 October featuring latest green tech and products  
Oct 21, 2021 18:00 HKT/SGT
Universities and DENSO Develop Biosensor to Detect SARS-CoV-2 and Accelerate Development for Practical Application  
Oct 21, 2021 15:41 HKT/SGT
JCB identifies Russia as a key growth market for European merchants as cardmembers continually increase online spend  
Oct 21, 2021 15:00 HKT/SGT
Air Race Pilot Yoshihide Muroya and Lexus Announce Partnership for Making History and Creating the Future  
Oct 21, 2021 14:48 HKT/SGT
More Press release >>
 Events:
More events >>
Copyright © 2021 ACN Newswire - Asia Corporate News Network
Home | About us | Services | Partners | Events | Login | Contact us | Cookies Policy | Privacy Policy | Disclaimer | Terms of Use | RSS
US: +1 214 890 4418 | Beijing: +86 400 879 3881 | Hong Kong: +852 8192 4922 | Singapore: +65 6549 7068 | Tokyo: +81 3 6859 8575