With VCs turning cautious, government's extra S$285m to catalyse startup funding timely

Singapore

THE government's decision to set aside S$285 million more to match private investments to promising startups will give the young companies a much-needed leg-up to tide them through the Covid-19 crisis, industry players said.

The risk-sharing move comes as venture capital (VC) firms turn more cautious amid the downturn, and startups run into difficulty accessing loans due to credit-assessment criteria set by banks.

The fresh allocation of funds comes in addition to the S$300 million previously set aside for deep-tech startups under …

A NEWSLETTER FOR YOU

Monday, 3.30 pm

Garage

The hottest news on all things startup and tech to kickstart your week.

Sign Up