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EnterpriseSG eyes wealthy families as local startup funding jumps 54% in H1

The agency also aims to boost financing, talent development and cross-border links

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Claudia Chong

Published Wed, Oct 5, 2022 · 12:54 PM

(from left) EnterpriseSG assistant chief executive Edwin Chow notes rising interest from family offices in Singapore. He joins Quest Ventures partner James Tan, Entrepreneur First Singapore partner Bernadette Cho, Singapore Polytechnic director for technology, innovation and enterprise David Chai, and strategic portfolio manager at ExxonMobil Technology & Engineering Company Saifudin Abubakar, in a panel discussion on Oct 5. ENTERPRISE SINGAPORE

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STARTUPS in Singapore continued to attract strong investments despite macroeconomic headwinds, with venture funding increasing 54 per cent to S$8.18 billion in the first half of 2022.

A total of 388 deals were closed during the period compared with 355 a year ago, according to figures from Enterprise Singapore (EnterpriseSG). The agency referenced internal data and information from DealStreetAsia, PitchBook, Preqin and Crunchbase.

Singapore, a hub for venture capital (VC) flows in South-east Asia, has seen a booming tech scene in recent years amid a rise in entrepreneurship and inflow of foreign investors. The city-state is now home to over 400 VC investors, according to PitchBook.

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Enterprise Singapore Venture capital Startup funding Family offices High net worth individuals

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