Tribe accelerator program gets boost from international VC firms

The startup accelerator’s participating firms raised a total of $93.68m since the program started.

The Singapore government-backed blockchain accelerator, Tribe, has announced that its participating startups have raised a total of $93.68m (US$70m) since the program started.

Meanwhile, Tribe also announced a new investment from Korea Investment Partners (KIP), the Korean venture capital firm's first investment in Singapore and investment from Mandiri Investment Management Singapore, a subsidiary of Indonesia state-owned bank, Bank Mandiri as well as investments from early Twitter, Coinbase and Square investor, Greg Kidd and Hong Kong-based Stellar Partners.

Through this new investment, Tribe said it aims to grow both Tribe Accelerator and Tribe Academy, expand into new markets and continue to provide a broad range of support for promising blockchain startups and talents from around the world.

“We are delighted that our start-ups have raised over US$70 million to date from investors including SGInnovate, Greycroft, SV Ventures, and other global investment firms. We are supporting a range of cutting-edge blockchain start-ups from around the world, with a total valuation of over USD$1 Billion, that are solving global problems from food security to medicine deliveries,” said Tribe CEO, Yi Ming Ng.

Through the added support from Indonesia, South Korea, US, and Hong Kong investors, Tribe will continue to widen its global reach and drive collaboration across industries and governments to enable more market ready blockchain solutions to global problems.