Private investors eye S$300m additional ammo to fund startups

Sharanya Pillai

Published Tue, Feb 18, 2020 · 09:50 PM

Singapore

THE S$300 million boost to the Startup SG Equity scheme could alleviate the pain that deep tech startups face in raising growth-stage capital, especially with dark clouds looming over the broader economy, industry players told The Business Times.

Separately, the startup industry is sanguine about the government's decision to allow the Angel Investors Tax Deduction (AITD) scheme to lapse on March 31, with players not expecting any sizeable hit to the angel investing scene.

In Tuesday's Budget speech, Finance Minister Heng Swee Keat announced that the government will set aside an additional S$300 million under its Startup SG …