However, this total funding volume in Singapore is a 44.7% drop from the previous year, while the Asean 6 saw deal values plummet by more than 52.9%.
Amid an eight year-low venture capital (VC) deal activity in Asia last year, investors are increasingly directing capital towards young startups to avoid the valuation discrepancies plaguing later stages, a report by Enterprise Singapore (EnterpriseSG) finds.
The report notes that Singapore, across the Asean 6 nations including, Malaysia, Thailand, Indonesia, Vietnam and the Philippines — maintained its lead in equity funding last year, with 73.3% of deal value per market attributed to the Republic, worth US$6.1 billion (S$8.5 billion).
