Date
17 December 2018
Singapore is one of the leading centers of technology and innovation in the Southeast Asian region. Photo: Reuters
Singapore is one of the leading centers of technology and innovation in the Southeast Asian region. Photo: Reuters

Singapore attracts US$7.8 billion venture funds over five years

According to the State of Southeast Asian Tech report published by Monk’s Hill Ventures and Slush Singapore last month, Singapore attracted US$7.8 billion of venture funds between 2013 and 2017.

The report covered mainly six countries, namely Singapore, Malaysia, Thailand, the Philippines, Vietnam and Indonesia. Over the past five years, Singapore has raised the largest amount of funds among the six countries and Vietnam the smallest.

There are a total of eight unicorns from the region, half of them from Singapore and half from Indonesia.

In the first six months, 66 startups in the region have listed or have been acquired, the Hong Kong Economic Journal quoted the report as saying.

E-commerce and logistics are the most popular segments, attracting three-quarters of the total amount of funds raised last year.

Among the landmark deals is Alibaba’s US$1.1 billion investment in Indonesia e-commerce platform Tokopedia.

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RT/CG

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