• The Mandarin term “创业基金” is a paraphrase of the English term “venture fund”.
• The purpose of a venture fund is to nurture entrepreneurs with potential but who lack funding (mostly small and medium-sized enterprises), assisting their development of regional businesses and adding value to their existing operations.
• In the early 1990s, the Singapore government allocated S$150 million to set up the first venture fund in line with the economic regionalisation policy to nurture Singapore entrepreneurs with potential and a risk-taking spirit.
• In 1992, the Singapore Venture Capital & Private Equity Association was established to promote awareness of the venture fund and its importance to economic development.
• By 1998, 80 companies in Singapore had benefited from the venture fund. Additionally, the venture fund provided loans to companies, which can be up to four times of the company’s funds.

While many venture fund companies focus on internet and technology businesses and biotechnology businesses, traditional industries can also, in fact, bring in high returns. (Lianhe Zaobao, 3/11/2006)