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DBS, OCBC yet to dip toes in corporate VC pond
Managing director of fintech private equity firm cites legacy concerns and low risk appetite as reasons for this
Add BT as a preferred sourcePublished Fri, Nov 17, 2017 · 09:50 PM
Singapore
NOT all Singapore banks are keen to venture into corporate venture capital (CVC), even as regional banks have woken up to the idea, with several having launched CVC funds in the last two years to invest in external startups for financial and strategic returns.
The Business Times has learnt that DBS and OCBC have no plans to launch a dedicated CVC fund, although UOB has had one since 1992. The spotlight was cast on CVC funds in banks on Friday at the 2017 Singapore FinTech Festival's Investor Summit.
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