Singapore’s venture boom falters as industry ponders future
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INCREASING market volatility has cast a chill over the once-booming venture capital (VC) industry in Singapore, with players bracing for more collapses and challenges in the year ahead.
In a bid to pump the budding startup scene with much-needed capital, Singapore regulators in October 2017 significantly relaxed the regime to allow even those with no prior fund management experience to become venture capitalists.
The change, along with tax policies and aggressive efforts to promote entrepreneurship, created a VC boom in the following years that propelled Singapore ahead of its regional peers as a destination for startup fundraising.
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