Singfung Capital
We began with conviction —in every founder’s insight and potential.
Singfung Capital began with a conviction, and that conviction has carried us ever since. We invest in seed to Series A technology companies in infrastructure software, applied AI and industrial digitisation. All of our capital comes from the group — no outside LPs and no fixed exit timetable.
- Stage
- Seed — Series A
- First cheque
- Up to US$5M
- Geography
- Asia-Pacific
Every great successbegins with a brave start.
We believe everyone carries an insight and a potential of their own. The hardest part of building a company is usually the first step, and that is where we want to stand with founders.
- I.
Start with the problem, not the market size
We first ask who is struggling with the problem, how they cope today, and what they would give up for something better. Concrete tasks, constraints and workarounds say more about real demand than any market-size chart.
- II.
Test assumptions with evidence
Early plans are full of assumptions, and that is fine. What matters is whether a team can turn them into observable behaviour — who uses the product, why, and where they drop off — and is willing to change course on the results.
- III.
Respect the limits of engineering
The group runs cloud infrastructure, so we know what reliability, data protection and operating cost really weigh. We separate what a product already does from what still needs proving, and we tell founders plainly what risks we see.
- IV.
Think in decades
Without a fund life to answer to, we never need to force an exit in year seven. We can add capital when a company is struggling, and step quietly aside when it doesn’t need us.
From a single seedto a flower in bloom
An investment is not a transaction for us but a long companionship. Scroll on to follow one from the first business plan, ring by ring; the engraving beside it is drawn as each stage unfolds.
VI / VI
IWhat you need
A business plan
It all starts with the plan you submit in the founder portal. Five minutes to introduce yourself and your company; we open your Capital account, and every later step happens there.
- No polished deck needed — just what you are building and why you
- Only the Capital team can see your plan and attachments
- We confirm by email and tell you what comes next
IIHow we talk
Read closely, talk the way that suits you
We read every plan closely and ask about the detail of your industry. From there we talk however suits you — in person, on a video call, or at our office nearest you.
- Colleagues in Singapore, Hong Kong, London and elsewhere can meet you
- Each review stage shows in the portal as it happens
- Anything we need from you is listed plainly
IIISigning
A term sheet
Once terms are agreed, the term sheet is signed online. Approved amounts and currencies are set out clearly and both sides keep a copy — no more hunting through inboxes for the latest version.
- Approvals in several currencies: dollars, Hong Kong dollars, pounds and more
- Milestones and terms at a glance
- Board seats depend on the round and are never a condition
IVSafeguards
Disbursements, one by one
Request money by milestone; two colleagues check each disbursement before it is paid. Changes to bank details need proof, and every payment shows its status.
- Request, review and payment are all recorded
- Your available balance updates with every payment
- Bank accounts are verified before use
VGroup resources
Growing up together
Cloud and GPU compute, cross-border networking, logistics and installation partners across South-East Asia — the group's resources are yours to use. When things get hard, we work it out together.
- Cloud and GPU compute from Labs
- Cross-border networking and South-East Asian logistics partners
- Regular check-ins, no pointless reporting
VIEvergreen
Starting again
When you need more, follow-on reserves keep supporting you; when an investment returns, it becomes the next seed. The evergreen structure lets the cycle run without a deadline.
- Up to US$50M reserved per company for follow-on
- No fund term, no rush to exit
- Returns go to the next founders
Evergreen, and entirelyfrom the group
Singfung Capital runs as an evergreen vehicle: proceeds are reinvested in new companies rather than distributed to investors. That lets us make decisions on the same timescale as founders.
US$500MUS$500M - Committed capital
US$5MUS$5M - Maximum first cheque
US$50MUS$50M - Follow-on reserve per company, up to
1616 - Companies backed
- Structure
- Evergreen, no fixed term
- Investors
- Group balance sheet
- Follow-on per company
- Up to US$50M reserved
- Board seats
- By round; never a condition
We take the hardestfirst step with you.
We do not only back startups. We are just as keen to work with energy, emerging industries and traditional businesses struggling in the wake of the internet. Drawing on the group's work across cloud, networks, logistics and capital, we help small firms take the hardest first step of any transformation: finding someone willing to build it with them.
Case study · Traditional manufacturing
From a furniture shop in Foshanto customers across Southeast Asia
A 1,500 m² showroom, endless price wars and a living that depended on passing trade. We joined up logistics and installation partners across Southeast Asia so that ‘order to living room’ became one service. Today he runs a business that reaches the whole region from a third of the old space and a 30 m² office.
Read the full story →Energy
A second life for a distributed solar operator
A rooftop solar company in Jiangmen ran more than forty commercial sites on manual meter readings and spreadsheets, and settling electricity bills often took two or three months. We invested in rebuilding its data platform: with Labs IoT connectivity and cloud databases, every inverter now reports online, settlement fell from two months to five days, and the generation data helped it secure a green loan.
Traditional retail
A heritage tea house opens in Kuala Lumpur
A third-generation tea merchant in Chaozhou watched its customers grow older while younger buyers only shopped online. We partnered to build its membership and mini-programme system, used the group's cross-border logistics to ship tea to Malaysia, and took a joint stake with a struggling local teaware shop to turn it into a brand store. Overseas sales reached thirty per cent in the first year.
Agriculture
A cold chain from orchard to Singapore
A lychee cooperative in Zhanjiang had to sell cheaply to middlemen every season. We invested in a local logistics firm on the brink of closing but with cold stores and a refrigerated fleet, and connected it to fresh-produce buyers in Singapore, putting fruit on shelves within 48 hours of picking. The cooperative's prices nearly doubled, and the logistics firm has steady work again.
Partnerships we are looking for
- Energy and the green transition
- Distributed solar, storage, charging networks and energy data.
- Traditional manufacturing
- Factories with good products but no channels or digital skills.
- Cross-border supply chains
- Logistics, warehousing and installation firms with good networks but a hard balance sheet.
- Agriculture and food
- Direct sourcing, cold chains and brand building.
Companies we stand behind
- TessalineA time-series database built for industrial sensor data, tuned for production-line compression and query latency.Infrastructure · Seed2024
- QuarrowBuild caching for small and mid-sized engineering teams that cuts continuous-integration wait times by more than half.Developer tools · Seed2024
- PaperkiteDocument parsing that turns contracts, invoices and quotes into structured data for finance and procurement teams.Applied AI · Pre-A2025
- LoomwrightScheduling and yield analytics for textile mills, linking every loom from order to shipment.Industrial software · Series A2025
- HalcyraA voice assistant that drafts consultation notes for community clinics — nothing is filed until the doctor signs off.Health tech · Seed2025
- OstrandCustoms and tracking APIs for cross-border parcels, giving merchants one interface to many carriers.Logistics · Pre-A2025
- VeriduneGeneration forecasting and operations for commercial rooftop solar.Energy · Seed2026
- MintgroveRisk models that assess SME receivables using transaction and logistics data.Fintech · Seed2026
Banking across three continents
UOB and Barclays support our investments in Asia Pacific and in Europe and North America; Wise and Revolut keep cross-border money fast and clear.
See all partners →- WiseA two-way partner in cross-border moneyPayroll and currency exchange for our offices worldwide; customers can pay our invoices through Wise in many currencies, with transparent rates and fast settlement.
- RevolutDigital banking, network and AI support partnerRevolut Business cards for staff travel and everyday company spending, plus offshore accounts, cross-border payments, supplier payouts and collections for customers expanding overseas.
- Goldman Sachs (Singapore)Custody and investment partner for our employee shareholdingHeld assets invested to an agreed level of risk and reported on regularly — nothing for colleagues to decide.
UOBAsia-Pacific banking partnerInvestment risk assessment, global banking, and cross-border cash management and clearing.- BarclaysBanking partner for Europe and North AmericaInvestment risk assessment, global banking, and cross-border cash management and clearing.
For founders
You don’t need a full deck. Tell us in a few sentences what problem you are solving, why now and why you. A partner reads and replies to every message.
Ready with a business plan? Introduce yourself in five minutes; the review, approved amounts and each disbursement then live in your founder account.
Submit a business plan →Founder sign-in