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TNB Aura Special Situation Fund

TNB Aura’s Special Situation Fund targets startups affected by Covid-19

The fund is designed with a focus to invest $2 million in each startup affected by the coronavirus pandemic

Singapore’s venture capital firm TNB Aura has launched a new Special Situation Fund with a focus to invest $2 million in each startups affected by the Covid-19 pandemic. TNB Aura’s Special Situation Fund is targeting nearly $100 million, media reports said. 

The Special Situation Fund is a sub fund of TNB Aura Fund II. The firm’s fund is specially designed to help those startups affected by the coronavirus pandemic.

It is open to different types of funding structures, including convertible notes or direct equity for startups series A and B funding rounds backed by venture capital firms or institutional investors, media reports said. 

Startups seeking funding at this time can apply through a form. Singapore’s venture capital firm mainly invests between $1 million to $5 million in tech companies in Southeast Asia. To date, it has invested in Singapore’s dental startup Zenyum and Indonesia’s  business-to-business firm Ralali among others.

The fund will help companies to achieve their target through funding. It is reported that investors in the TNB Aura’s Special Situation Fund include the firm’s existing partners and institutional investors from Southeast Asia. 

It will provide an extended runway of 12 to 18 months to allow startups to prepare and achieve their milestones, media reports said. 

Early stage investor Expara Ventures has also launched a new accelerator programme to fund 30 companies and provide  funding up to $50,000 in funding. The programme will deeply focus on identifying solutions that can detect the Covid-19 virus and spread meaningful information about it to curb the spread of the Coronavirus. 

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