Engie to Sell Startup Stakes in Singapore and APAC Region
Engie is divesting its startup interests in Singapore and the APAC region through its venture arm, Engie Factory in APAC (EFAP), offering partner investors the chance to acquire its holdings or the entire EFAP. This decision raises concerns about the potential negative impact on early-stage technology firms and could lead to job losses within EFAP's Singapore team. Interested parties have until February 16, 2026, to submit bids.
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Engie, the French multinational energy company, is divesting its startup interests in Singapore and the APAC region, held through its venture arm Engie Factory in APAC (EFAP). The company has offered partner investors an opportunity to acquire all EFAP's holdings or may divest EFAP entirely.
This decision could affect early-stage technology firms such as Table Pointer and Get Solar in Singapore and Verta Bioenergy in the Philippines. Interested parties have until February 16, 2026, to submit bids.
The restructuring has raised concerns among investors regarding the potential negative impact on startups from losing a prominent investor. The divestment could lead to job losses within EFAP's Singapore team, although some employee retention has been mentioned. EFAP, established in 2018, aimed to support scalable startups for energy transition.
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