Singapore takes lion's share of venture dollars in South-east Asia

Singapore

SINGAPORE is staking a claim as the leader for venture capital dollars in South-east Asia, with tech startups in the city-state drawing in S$5.5 billion of capital over the past year, Second Minister for Trade and Industry Tan See Leng said on Tuesday.

The S$5.5 billion is a dip from the S$8.5 billion raised in 2019, according to figures from Enterprise Singapore. Still, Dr Tan noted that amount of capital raised by Singapore startups last year was still almost three times what was received five years ago.