Equity funding Singapore Q1 2020-Q3 2023, by deals and value

In the third quarter of 2023, 132 equity funding deals were completed across Singapore-headquartered firms for a total value of 2.08 billion U.S. dollars. It indicates a significant increase compared to the previous quarter when the funding value reached 1.27 billion U.S. dollars.

Startups funding in Singapore

The average deal value of startup investments in Singapore decreased across all investment stages between 2021 and 2023. Series D funding reached 66.7 million U.S. dollars in the first nine months of 2023. In 2021, the most funded Singaporean startups included Lazada Group, Bolttech, and InterContinental Energy. Among the leading investors were Alibaba Group, Leapfrog Investments, and Khazanah Nasional. In recent years, fintech has been a rapidly growing sector in the Singapore startup scene. Cake DeFi and Nium are among the leading startups in these sectors.

Startup ecosystem and investments in Singapore

Over the past decade, Singapore has built an attractive startup ecosystem, bringing together entrepreneurs and investors through government initiatives and accelerator programs. The country enjoys a strategic location and a favorable business climate that attracts many actors in the startup scene. Singapore’s strong intellectual property rights also give companies the confidence to invest in research and development. Moreover, the country has about 400 venture capital firms that provide financial support to this ecosystem. As of May 2022, the value of venture capital funding reached 4.27 billion U.S. dollars, with 500 Startups, Tiger Global Management, and Sequoia Capital leading the firms in terms of funds raised.