Singapore’s Maritime and Port Authority (MPA) has recruited more venture capitalist firms to its accelerator PIER71 increasing its financial firepower.

The four companies joining the PIER71 Venture Capitalist Network are Narwhale Ventures, Tradeworks.vc, Kibo Invest, and Paragon Ventures.

This brings the total number of venture capitalists in the network to 12 and adds a further SGD 6m ($4.5m)