The Accel-X Venture Capital Fund was started in 2009 through a B$5 million (USD $3.7 million) investment from the Sultanate to Accel-X Pte Ltd which is a Singapore-based venture capital fund which invests in new and highly-scalable technology companies. This new capital fund aims to “support the development and expansion of promising Brunei Darussalam-based high-tech companies beyond Brunei Darussalam” with particular focus on young technology firms. In addition to equity capital, the fund provides mentorships and connections to overseas networks. The first company to receive funds was Infindo Technology, a firm which participated in the iCentre incubator