BAF Spectrum Pte Ltd is a $20 million angel investment fund launched in October 2006. Five Singapore-based business angels headed by Mr. Francis Chua will manage the fund over a period of five years. Mr. Chua, a successful entrepreneur and well-known business angel, has a portfolio of companies in both Europe and Asia. Half of the funding comes from the angels themselves with the other half provided by SEEDS Capital Pte Ltd, a wholly owned subsidiary of the Singapore Economic Development Board.