The 3i Asia Pacific Technology Fund will invest between US$1 million and and US$25 million in early stage, growth capital and pre-IPO investments, 3i said in a statement.
The company said it would directly invest US$300 million of its own funds with US$100 million being provided by the Singapore government as part of its US$1 billion Technopreneurship Investment Fund (TIF).
TIF is jointly managed by the Government of Singapore Investment Corporation (GIC) and the National Science & Technology Board (NSTB).
Already, the fund has selected its first recipient--Singapore-based financial service provider iDS Finance.
3i said it will be investing US$7.2 million and take a 15 percent stake in iDS Finance.
"The investment by 3i will help us to aggressively build our business across Asia.
"Already, 3i has been valuable in keeping the business focused, and have opened doors for us with people in other markets we could never have had access to," said iDS Finance founder Quek Gim Soon.
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