Following the recent expansion of its accelerator in Singapore, F10 is making more headlines: In addition to its accelerator programs, F10 has now launched a Pre-Seed Fund to provide early-stage startups participating in the P2 «Prototype to Product» program with a CHF 200,000 investment at successful completion.
Venture capital is a trendsetting success factor for Startups. In the early development phase, they urgently need enough financial resources to be able to move forward quickly and focus on their core business. F10 has been offering various startup programs since 2016, which also focus on investment and its many facets. Proven experts offer versatile support in the form of coaching, mentoring and collaboration support between Corporates and Startups.
This commitment has already made things easier for over 50 Startups, transforming them into successful companies. The F10 can look back on a survival rate of 97%. This is an exceptionally high percentage and is also due to the fact that intensive work is being done on the translation performance between Startups and Corporate Members. Thanks to the precise preparatory work, graduates of the P2 program have been able to bring together over CHF 45 million in the past and create more than 320 jobs.
In order to be able to support FinTech Startups even better, F10 is now launching its own Pre-Seed Fund, investing in the best Startups from the respective cohorts. Specifically, successful graduates of the P2 program will receive a convertible bond in the amount of CHF 200,000. It is planned to use the first fund to raise enough capital for the next three programs until 2022. More than half of the capital has already been secured by investors from among the Corporate Members. F10 is now looking for external investors who would like to participate in the fund. The current Startups in the P2 program will already be able to benefit from the investment.
«For years we have been generating high-quality deal flow for early-stage investors in FinTech, InsurTech, RegTech and CyberSecurity. Now it’s time to give F10 Corporate Members and external investors the opportunity to participate in this deal flow in a simple, uncomplicated way. This Pre-Seed Fund makes F10 even more attractive for the best Startups, which in turn has an extremely positive effect on the entire F10 ecosystem,» says Andreas Iten, Co-Founder & Board Member of F10.
From Zurich to Asia with big plans
In addition to the announcement of its Fund, F10 has also revealed that a new location will be added in the new year. The P2 «Prototype to Product» program will launch in May 2020 for the first time in Singapore. Not only will expertise be transferred from Zurich to Singapore, but a Pre-Seed Fund is also being planned in Asia. So aspirants from Asia can also look forward to the extended services.
(Press release/RAN)
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