Singapore is known for its robust economic system and thriving startup culture, which includes a well-developed incubation infrastructure, tax benefits, grants, and financing options. The number of startups in Singapore has grown significantly, rising from 22,000 in 2003 to over 55,000 in 2022.
While the venture capital industry in Singapore is still relatively small compared to the United States and Europe, over 100 venture capital firms are operating in the country, ranging from independent limited partnerships to corporate-backed firms.
Venture Capital Firms in Singapore
Venture capital firms in Singapore play a vital role in the startup ecosystem by providing investment funding to early-stage and emerging businesses that have demonstrated a strong potential for growth. According to data on Enterprise Singapore, the total VC funding in Singapore reached $16.5 billion in 2021, a 68% increase from the previous year.
VC firms in Singapore provide funding, expertise, resources, and access to their professional network to startups in exchange for equity in the company, helping startups grow and scale their businesses. With many successful VC firms in Singapore to choose from, startups need help knowing where to start.
Here are some of the country’s top venture capital firms, their different investment strategies, and focus areas. This list should help entrepreneurs and startups narrow their search and find the best fit for their business.
1. Golden Gate Ventures
Golden Gate Ventures is a Singapore-based venture capital firm that invests in consumer internet products and services for Southeast Asia. They commonly focus on businesses that have a presence in countries like Indonesia, Singapore, Malaysia, Thailand, Vietnam, and the Philippines. The firm prefers startups that have already launched a product or had successful regional distribution partnerships. Some of Golden Gate Ventures’ recent investments include MyMusicTaste, Xfers, and Aptoide.
- Location: 73B Duxton Road, Singapore
- Investment Range: $1 million to $5 million
- Stage of Investments: Seed
2. Dale Ventures
Dale W. Wood, a seasoned player in the venture capital industry, is the founder and CEO of Dubai-based Dale Ventures.
Dale Wood is an industry veteran of 20 years in the venture capital ecosystem. As an entrepreneur himself, he brings a highly focused, growth-oriented, fresh perspective to the VC landscape. Dale Ventures focuses on creating long-term relationships with founders and bringing long-term value to any startup, carving out a unique space in the world of investing.
The company is well-known for its value-added approach, only entering into partnership agreements where significant contribution to the growth and success of a company is possible. Some of the notable investments of Dale Ventures include Instanda, Rayo Credit, Arcadier, TechNet, and Huma.
- Location: Costa Rica, Panama, Hong Kong, the United Kingdom, Dubai, and Singapore
- Investment Range: $50,000 to $10 million
- Stage of Investments: Multi-stage
3. Jungle Ventures
Jungle Ventures is an early-stage venture capital firm based in Singapore that specializes in businesses in India and Southeast Asia. The firm has more than 35 investments and aims to support companies that have the potential to be long lasting and impactful. With a portfolio worth over $12.5 billion, Jungle Ventures is considered one of the region’s most successful venture capital firms.
A team of accomplished founders leads the firm, including Amit Anand and Anurag Srivastava. Some of Jungle Ventures’ current portfolio companies include Milaap, a microlending platform; ShopSpot, a mobile shopping app; and Travelmob, a vacation rental website recently acquired by HomeAway.
- Location: One George Street #07-02, Singapore
- Investment Range: $500,000 to $20 million
- Stage of Investments: Seed
4. 500 Startups
500 Startups is a Silicon Valley-based venture capital seed fund and network of startup programs with over $2.8 billion in assets. Since its inception in 2010, the firm has invested in more than 2,600 startups and 51 companies worldwide, such as Credit Karma, Twilio, Grab, Talkdesk, Udemy, Intercom, and MakerBot.
Christine Tsai, the CEO, leads the firm with a team of managing partners, including Khailee Ng, Vishal Harnal, and others. Among their recent investments are DayDayCook, KFit, and Fabelio.
- Location: United States, Mexico, Dubai, Bahrain, Istanbul, Seoul, Singapore, Bangkok, Ho Chi Minh City, and Kuala Lumpur
- Investment Range: $25,000 to $250,000
- Stage of Investments: Seed
5. Singtel Innov8
Singtel Innov8 is the venture capital arm of the regional telecommunications group Singtel. It invests in and partners with technology companies worldwide and has a fund size of $250 million. In addition to providing funding, Singtel Innov8 offers startups access to the knowledge and resources of the Singtel Group while also giving the Group access to cutting-edge technologies.
Singtel Innov8 focuses its investments on services and technologies that have the potential to significantly transform network capabilities, next-generation devices, digital services, and customer experience enablers. The firm is based in Singapore and has offices in San Francisco and Tel Aviv.
- Location: 71 Ayer Rajah Crescent, #02-22, Singapore
- Investment Range: $100 million to $30 million
- Stage of Investments: Multi-stage
6. Sequoia Capital
Sequoia is a well-known venture capital firm with a reputation for investing in some of the most successful global companies. In Asia, the firm primarily invests in startups based in China and India at or above the growth stage. The firm has a strong presence in Singapore and has invested in several local startups that later became significant players in their respective industries.
The firm’s global network and resources are one of the main advantages of working with Sequoia. And, as one of the most reputable venture capital firms, having Sequoia as an investor can give startups credibility. Some of Sequoia’s recent investments in the region include KFit and Go-Jek.
- Location: Sydney, Menlo Park, Tel Aviv, Melbourne, Hong Kong, California, Mumbai, Bangalore, and Singapore
- Investment Range: $100,000 to $2 million
- Stage of Investments: Seed
7. Monk’s Hill Ventures
Monk’s Hill Ventures is a VC firm based in Singapore that specializes in early-stage investments in technology companies in Southeast Asia. Its team has experienced entrepreneurs who have founded and backed successful companies in Silicon Valley and Asia.
Monk’s Hill Ventures focuses on investing in well-positioned companies to capitalize on the rapidly growing markets in Southeast Asia. The firm has backed innovative companies in corporate software, mobile consumer internet, and big data. Some of their notable investments include DataXu, Gengo, Kalibrr, and Reebonz.
- Location: Singapore, Vietnam, and Indonesia
- Investment Range: $1 million to $3 million
- Stage of Investments: Seed
