Despite being geographically small, Singapore is a major financial hub. Due to its high-rankings in global connectivity, tax incentives and ease of doing business, it is one of the top foreign investment destinations in Southeast Asia. It also hosted more than half of the Southeast Asian PE/VC deals in 2018.
Private Equity and Venture Capital funds based in Singapore have more than $19.2 billion in assets under management. Start-ups in Singapore secured $7.5 billion in funds consisting of three-quarters of all start-up funding deals in Southeast Asia in 2018.
The capital city of Singapore is one of the most technologically integrated smart city and a natural hotbed for tech start-ups and tech-focused Venture Capital funds. It is home for five unicorns, namely Grab, Lazada, Razer, Sea, and Trax, with a combined valuation of around $12 billion.
In terms of Private Equity Investments, most of the recent deals focused on financial services, insurance, and real estate. Private Equity industry is mostly driven by giant sovereign wealth funds GIC Private Limited and Temasek Holdings.