+1-888-308-5802      . .

Availability of funds for venture deals in Singapore dips in 2022

Author : Pankaj Singh | Published Date : 2023-03-03 

Availability of funds for venture deals in Singapore dips in 2022

The capital funding required to set up ventures by tech companies in Singapore reportedly weakened in 2022 on account of a disturbance in the macroeconomic environment that made investors cautious. The volume of deals dropped by 11 percent to 651 Y-o-Y, while the total deal volume went down to USD 11 billion as per reports from Enterprise Singapore and Deal Street Asia.

Alibaba Group however, were able to prop up deal value slightly, with a USD 1.63 billion injection into its subsidiary Lazada Group. The volume of capital funding went down from 244 in the fourth quarter of 2021 to 133 in the same quarter of 2022. This could also result in a further slowdown in 2023.

Despite this, many new start-ups have managed to gather a substantial amount of funding which has helped Singapore maintain a lion’s share in the equity fund-raising in South-East Asia. In 2022, the Republic amassed 63.8 percent of deal value, with Indonesia following closely at 21.9 percent.

Major deals included fintech Coda Payments’ raising of USD 690 million with the help of GIC, Insight Partners, etc. Princeton Digital was also able to gather USD 500 million with funding from Mubadala, an Abu Dhabi state fund.

However, several crossover funds active in late-stage investments backed down, as their portfolios fluctuated. In the area of deep tech, which is one of the growth areas for Singapore, deal values fell from a record high to USD 1.95 billion, indicating a 24 percent drop.

On the other hand, there are over 21 seed-stage start-ups that are close to Series A funding stage, and 7 companies close to Series B stage. The Singapore government is also striving to collect sufficient funding in various ways. Seeds Capital, which is the investment arm of Enterprise Singapore managed to collect USD 40 million and USD 132 million via private funding, almost double of the amount from five years.

Source Credit: https://www.straitstimes.com/business/venture-funding-for-singapore-start-ups-weakens-in-2022

 

About Author

Pankaj Singh . .

Pankaj Singh

Endowed with a post graduate degree in management and finance, Pankaj Singh has been a part of the online content domain for quite a while. Having worked previously as a U.K. insurance underwriter for two years, he now writes articles for fractovia.org and other online portals. He can be contacted at- [email protected] | https://twitter.com/PankajSingh2605

Related News

Bayers new CEO initiates management job cuts to accelerate decision-making

Bayers new CEO initiates management job cuts to accelerate decision-making

Published Date: 2023-09-15         Author: Pankaj Singh

Bayer newly appointed CEO, Bill Anderson, has reportedly unveiled plans to streamline the companys management structure in a bid to expedite decision-making processes. This marks the first step in a broader effort to transform the embattled German company, which has been under pressure from inv... Read More>>

Smurfit Kappa in Merger Talks with WestRock worth $19 Billion

Smurfit Kappa in Merger Talks with WestRock worth $19 Billion

Published Date: 2023-09-08         Author: Pankaj Singh

Smurfit Kappa, a prominent player in the packaging industry, is reportedly engaged in merger discussions with its US counterpart, WestRock. This prospective merger has the potential to create a cardboard box-making powerhouse boasting a market value approaching $19 billion (€17.8 billion). Furt... Read More>>

RBC plans job cuts to take on anticipated economic softening

RBC plans job cuts to take on anticipated economic softening

Published Date: 2023-08-25         Author: Pankaj Singh

The Royal Bank of Canada is reportedly planning to reduce its workforce by approximately 1,800 jobs as part of cost-cutting measures, on account of the anticipated upcoming economic landscape. This decision comes after the country's largest bank surpassed analysts' predictions for the third ... Read More>>

© 2024 Fractovia. All Rights Reserved