BT: More money in pipeline for startups

funding

Last year, VC investment in Singapore’s tech sector soared to US$1.71 billion from US$27.9 million in 2011.

Golden Gate Ventures (GGV), an early-stage startup incubator with offices in Singapore and Silicon Valley, is looking to raise a $50 million venture capital (VC) fund for Singapore-based tech startups, a move that will address the Series A funding crunch here.

GGV has also applied to be a registered fund management company with the Monetary Authority of Singapore. If successful, GGV will be able to manage more funds and “issue larger cheque sizes to startups”, while it continues to offer mentorship and incubation services.

Insufficient Series A and post-Series A funding (Series B, C, etc), as well as corporate VC participation, were some of the challenges faced by entrepreneurs seeking to raise working capital in the past year.

For more information, read the full article here.

2014-03-17T16:04:37+00:00March 17th, 2014|General|1 Comment