Olive Tree Estates (SGX:1H2) and Providence MetaVentures have mutually agreed to terminate discussion relating to the setting up of a joint venture in Singapore, according to a filing with the Singapore Exchange on Tuesday.

The parties had agreed to establish a joint venture, named Agathos Investments, in January 2022. The JV was meant to design and develop a crowd-funding platform aimed at securing funding.

However, the Olive Tree Estates said the project is not aligned with the company's goal of investing in projects that offer economic returns, according to the filing.