Mainspring to provide support to Entrepreneur First on establishment of their Singapore Fund
1st May 2016
Mainspring is delighted to have been awarded an additional mandate from Entrepreneur First. In addition to working with the team on the seed fund and the Next Stage Development fund, Mainspring will begin working on Entrepreneur First’s Singapore Fund. Mainspring will be supporting ef with the establishment of the fund assisting with client AML, client on-boarding, as well as the on-going administration that we provide for PE and Venture fund managers with their LP/GP fund partnerships, such as draw downs, distributions, quality reporting, management accounting, along with more complex tasks such as equalisations and waterfall calculations.
Entrepreneur First is a pre-seed investment programme. It provides individual entrepreneurs with support and funding as they seek a co-founder in the program and, together, develop exciting new businesses. So far, Entrepreneur First has helped 350 individuals to build 100 companies with a total valuation of more than $500m.
Matt Clifford, Co-Founder of Entrepreneur First explained: “Mainspring has already shown what an effective partner it is for us. We look forward to working alongside the Mainspring team to build out our Singapore offering.”
Stephen Geddes, CEO of Mainspring added “It is always gratifying when an existing client returns with a further mandate. We are very pleased to support Entrepreneur First with this latest fund.”
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