Singapore's venture capital deals hit $20.7b in 2017-2019

The Lion City clinched two-thirds of ASEAN VC deal value during the period.

Singapore continues to be ASEAN’s venture capital (VC) hub as it hit a record-high $20.68b in deal value since 2017, or two-thirds of the total ASEAN VC deal value during the period, according to a report by capital market firm Preqin and Vertex Study.

Also read: Singapore VC fund manager tops global consistency rankings

Online marketplace Lazada as well as transport and financial services company Grab Holdings were named as Singapore’s standout assets over the period, each recording multibillion-dollar financing in 2018.

Grab’s $2.01b (US$1.46b) series H round in March was the most notable ASEAN VC deal in H1. It also nabbed the fourth-spot in the list with its $406.55m (US$300m) investment from Invesco Asset Management in July, followed by fashion commerce platform Zilingo, with its $300.1m (US$226m) series D funding round last February.

Also read: Grab to invest $694.4m in Vietnam

All six spots in the study’s list of notable ASEAN-based VC funds closed in 2018/2019 were from companies based in Singapore. The $313.6m Vertex Ventures SEA & India fund IV was the largest fund of the period in terms of size.

ASEAN-foucsed VC fundraising surpassed $1b in2018, the third time in the past four years according to the report. ASEAN-focused Assets under Management (AUM) reached a record $5.3b during the same period, whilst the annual amount of AUM capital deployed into the ASEAN venture capital market hit $10b for the first time.

Emerging from Singapore’s shadow is Indonesia, whose VC market recorded over $2.9b in value in 2018. The ‘GTT’ – a group of three local tech giants – is behind this exponential development: Go-Jek, an app providing various on-demand services; PT Tokopedia, an online marketplace; and Traveloka, an online platform for booking hotels and transport.

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

HongKongLand had the most growth for the day.
It surpassed the Bloomberg consensus estimate of 14.5%.
The agreement aims to grow tourism and economic activities as borders reopen. 
It will also enter a loan agreement worth $210.6m.
The acquisition will be fully funded by cash through internal resources.
These countries are Cambodia, the Maldives, Sri Lanka, Thailand, and Turkey.
The decrease was driven by profit declines in their beer and non-alcoholic businesses.
Sources say the state-owned Chinese firm is in talks with advisers about the potential divestment.
The tests start on 29 November.
Exercise CyberMaritime 2021 puts the sector's cybersecurity readiness to the test.
This is equivalent to 236 attackers per company in a year.
Genting Singapore was seen with the most growth.
The partnerships aim to improve care delivery and patient outcomes.