SeedPlus funding tells a useful story even though the fund itself is closed: launched in May 2016 in Singapore, it raised an oversubscribed US$18 million first fund (initial target S$25 million, per vcnewsnetwork) with LPs including Jungle Ventures, Eight Roads, Cisco Investments, IFC, SGInnovate, Accel Partners — and Ratan Tata’s RNT Associates. It wrote S$500,000–$1 million seed cheques into fintech, AI, cybersecurity, SaaS, IoT, marketplaces and insurtech across Singapore and Southeast Asia — deliberately small, deliberately early, and deliberately backed by operators who had built companies themselves. That formula produced an outsized hit rate for a first-time fund.

Investment thesis

The portfolio is the legacy: Indian B2B industrial-goods platform Moglix (founded by Rahul Garg), insurtech Qoala, CardUp, eldercare platform Homage, Travelstop and Neuron Mobility (seedplus.com/portfolio) — a hit list that outperformed many funds five times its size. Partners included Michael Smith (Managing Partner) and Chirayu Wadke (Partner). The official site now states plainly: ‘The SeedPlus fund has been fully deployed and is not making any new investments.’

Sectors, stages and cheque size

SeedPlus focuses on fintech, artificial intelligence, cybersecurity, software and SaaS, IoT, marketplaces, insurtech. Stage: seed only; Singapore and Southeast Asia (fund now fully deployed). Fund size: US$18 million (oversubscribed first fund); seed cheques of S$500K–$1M when active.

Notable portfolio

  • Moglix — India — B2B industrial-goods platform, seedplus.com/portfolio
  • Qoala — insurtech — seedplus.com/portfolio
  • CardUp — seedplus.com/portfolio
  • Homage — eldercare — seedplus.com/portfolio
  • Neuron Mobility — e-scooters — seedplus.com/portfolio

Key people

  • Michael Smith, Managing Partner, per 2019 BlockPunk release
  • Chirayu Wadke, Partner, per IoT ONE podcast interview

India connection

Yes — Moglix (Indian-founded), Appknox (mobile app security, Indian-founded), and Ratan Tata’s RNT Associates was a founding backer.

How to apply for funding

None — the fund is fully deployed and states on seedplus.com that it is not making new investments. Founders should not pitch SeedPlus; study its portfolio instead, and note where its partners and LPs (Jungle Ventures, RNT Associates) are investing now.

Why it matters for founders

SeedPlus is a case study in doing seed right: a focused $18M fund, strong operator LPs, and a portfolio — Moglix, Qoala, Homage — that outgrew its geography. Moglix alone went on to become one of India’s notable B2B unicorns, which says everything about picking founders over markets. The takeaway for founders: when a fund closes, follow its people and its LPs. Jungle Ventures and RNT Associates are still writing cheques; that is where the SeedPlus lineage lives on.