SINGAPORE — Derrick Teo and Lin Rong Jie, founders of Jobstoday, have made a management buyout of its company. They have signed a sales and purchase agreement to acquire the remaining shares from TRI5 Ventures I Pte Ltd, an investment fund managed by TRIVE Venture Capital.

Teo and Lin are also the directors of the Elitez Group of companies, which Jobstoday is part of. Teo shares his comments on this management buy out, “Jobstoday was one of our earlier startup ventures.. We are grateful to TRIVE for first believing in us and our vision, which was an initial starting point for us in building the Elitez Group of companies to where it is today. TRIVE’s value-add as an active investor has been essential and I recommend startup founders to seek TRIVE out for their early-stage expertise.”

Leck Ting Yan, Managing Partner of TRIVE, shares the same sentiment. “Jobstoday was invested during the Tier-2 iJAM RELOAD incubation program under our former incubator. They have developed tremendously with their serial entrepreneurship of multiple businesses. We are proud of where Jobstoday has become and look forward to a great future for the company and its founders.”

The relationship does not end following the buyout. Derrick Teo has agreed to be a sectoral expert in TRIVE’s Positive Impact Tech fund. He says, “I understand TRIVE’s PIT mandate is to support health and income increment. There is a large gap in the sustainable aspect of incomes in HR. And I look forward to lending my experience to build sustainability and impact together with TRIVE.”