Singapore's Bet on Tech Startups Gains Ground With 150 VC Funds
Light trails at dusk in Singapore.
Photographer: Brent Lewin/BloombergThis article is for subscribers only.
Singapore’s effort to create an ecosystem to support startups is gaining ground, with the city-state now home to more than 150 venture capital funds.
L’Oreal SA, Microsoft Corp. and Oracle Corp. are among more than 100 entities running incubator and accelerator programs, according to Enterprise Singapore, the government agency spearheading enterprise development. Venture funding has increased to $10.5 billion in 2018 from $800 million in 2012, according to data from PitchBook.