Singapore Venture Funding Landscape 2023 (Enterprise Singapore / Startup SG)
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- Singapore recorded 522 equity funding deals in 2023, representing a 19.8% drop from 2022.p.4
- Startups headquartered in Singapore accounted for 63.7% of all equity deals in ASEAN 6 in 2023, up from 56.7% in 2022.p.4
- Singapore's share of total venture capital raised in ASEAN 6 reached 73.3% in 2023, compared to 62.5% in 2022.p.4
- Early-stage deals in Singapore comprised 94.1% of deal volume and 49.8% of deal value in 2023.p.4
- Singapore registered 159 deep tech deals in 2023, representing a 31.4% year-on-year increase.p.4
- Regional venture capital firms recorded 45 interim and final closes to raise $5.01 billion in new capital in 2023.p.5
Key insights
- Startups headquartered in Singapore secured nearly 80% of the new capital raised by Southeast Asian VC funds in 2023.p.2
- Late-stage deals in Singapore collected $3.06 billion in 2023, down by 50.8% year on year.p.4
- The RIE2025 plan allocates a five-year budget of S$25 billion ($19 billion) to fuel R&D and deep tech advancements.p.8
- Sub-$2.5M deals accounted for 44% of the total deal count in Singapore in 2023.p.17
- Deal volume in the Human Health and Potential domain in Singapore grew by 64.9% to 61 transactions in 2023.p.5
- Green tech deals under the Urban Solutions and Sustainability theme in Singapore reached 26 transactions in 2023.p.25
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