The National Research Foundation (NRF) has announced that it will make the money available to six venture capital firms for early-stage start-ups.

Singapore’s National Research Foundation, set up in 2006 as a department within the prime minister’s office, is to make S$120m available to six venture capital firms in its second round of funding under the Early Stage Venture Fund. The scheme was launched in 2008.

The NRF will co-invest S$10m ($7.9m) on a one-to-one basis with each of the funds, as part of its goal to create an active technology start-up scene in the Asian city-state. It has selected SBI Ven…