SINGAPORE — TRIVE Venture Capital has made its exit from Park N Parcel investment via a sales and purchase agreement with its CEO, Tan Gan Hong. Tan has acquired the remaining shares from TRI5 Ventures I Pte Ltd for an undisclosed amount. TRI5 Ventures I Pte Ltd is an investment fund managed by TRIVE Venture Capital.

Leck Ting Yan, Managing Partner of TRIVE, says, “Park N Parcel was an investment made during our first vintage fund where we were keen on supporting Singaporean startups. Today, Park N Parcel has become one of the major last-mile delivery companies in Singapore that delivered over 2 million e-commerce parcels and counting. We have achieved our outcome for this investment and wish Park N Parcel the very best in their future endeavours.”

Tan Gan Hong, CEO of Park N Parcel, gives his comments, “TRIVE is one of our early investors in Park N Parcel while we were still in the idealization stage and finding our niche market. We are very grateful for all the advices given by Christoper and Ting Yan, which contributed to the growth of the company over the years. Highly recommend early stage startups to work with TRIVE for their expertise!”