A sunrise industry: Singapore's YCH Group launches US$14.6M venture fund for logistics startups

Correction: Due to earlier miscommunication on details of the matching scheme, the first reported amount of the fund, S$10 million (US$7.3 million), has been increased to S$20 million (US$14.6 million). Just a couple of months after its Executive Chairman Dr. Robert Yap was named ‘Businessman of the Year’ at the Singapore Business Awards, the logistics firm YCH Group announced today the launch of a new corporate venture arm set to invest S$20 million (US$14.6 million) in local supply-chain startups, co-founded by YCH and Singapore’s National Research Foundation.Named Supply Chain Angels (SCA), the venture is in partnership with the National Research Foundation and will operate through a one-to-one matching programme with the government agency.