Singapore FinTech Festival attracts US$12 bil of capital for Asean enterprises
SINGAPORE (Oct 22): The 380 participating investors who enrolled for the Singapore FinTech Festival’s deal-making platform, MATCH, are planning to invest US$6.2 billion ($8.5 billion) in Asean enterprises next year, and an additional US$6 billion over the subsequent two years, announced the Monetary Authority of Singapore (MAS).
Powered by EY, MATCH or Meet Asean’s Talents and Champions, is a platform curates and matches Asean enterprises with global private equity and venture capital.
MATCH is a new component in this year’s FinTech Festival and has generated more than 17,000 matches between 380 investors and 840 enterprises.
In a Monday media release, MAS says investors showed most interest in startups and growth-stage enterprises, with 60% of the intended Asean investment allocation for next year concentrated in the areas of FinTech, healthcare, medical technology, and the information and communications technology or ICT sectors.
The matchmaking exercise was conducted from May to Sept. And to facilitate deal-making, MAS and EY co-hosted the inaugural Deal Day on Oct 5, which saw more than 400 meetings to match-make enterprises and investors.
Apart from MATCH, another new component that the Singapore FinTech Festival will be introducing this year is the Global Investor Summit, which will be held on Nov 13-14. The summit, targeted at investors and enterprises, features themes such as capital-raising strategies, building businesses across borders, investors’ outlook and India, China and Asean leaders’ dialogues.
Jacqueline Loh, deputy managing director of MAS, says, “The 2018 MATCH exercise demonstrates the upward momentum in both the supply of and demand for growth capital in Asean. The interest of the global investment community in our region is promising. MATCH presents a great opportunity to ensure that private capital is deployed towards the development of promising Asean enterprises. MAS is committed to supporting this process.”
The Edge Singapore is an official media partner for the 2018 Singapore FinTech Festival
