SINGAPORE, 28 March 2016 – 10K announces the formation of a partnership with Singapore-based Fundnel, Asia’s first collaborative investment platform.
10K is a startup tech platform and the accelerator arm of Marvelstone Group, a Singapore-based private investment group that facilitates a multifaceted ecosystem fostering entrepreneurs and creators, both in terms of physical spaces and content.
Joel Ko Hyun Sik, CEO of 10K Asia, stated, “Our partnership with Fundnel is a collaborative initiative to help support and fundraise for startups that come under the 10K and/or Fundnel platform. We share the vision of growing Asian businesses together and helping them thrive and expand globally.”
“10K and Fundnel both have strong networks in different countries within the region of Asia. Through this partnership, both companies will have access to a wider range of expertise and networks, especially in Korea, China and Hong Kong. With a common goal in sight, we also looking to work together in shaping the startup ecosystem in Asia,” he further added.
Kelvin Lee, Co-Founder and CEO of Fundnel said, “We have managed over 10 successful deals with investments over US$8 million since we launched in October 2015. As a company, we continuously test different funding models to gauge the interest and receptivity of our audience, whilst bringing more curated investment opportunities to investors. We chose to work with the team at Mavelstone and 10K as they have demonstrated a clear focus of investing in and integrating best-in-class companies and platforms across the region. With this partnership, we hope to add value to fundraising processes in Asia through our combined networks.”
Entrepreneurs and startups need support, advice and access to financial resources. Together, 10K and Fundnel look set to grow a contained ecosystem housed in a dedicated work space, featuring a full-fledged accelerator programme (10K) combined with an end-to-end private crowd financing solution (Fundnel) for businesses in Asia. With an eye on the wider region, 10k’s goal is to roll out 100 accelerators, housing 100 startups each across Asia over the next 7 years.”