Singapore to launch new funding platform for next
The platform, called Meet ASEAN's Talents and Champions (MATCH), is powered by Ernst & Young as a new component of this year's Singapore FinTech Festival. It is built on the success of the Singapore FinTech Festival's Investor Summit 2017 by expanding the scope of the deal-making platform to sectors beyond FinTech, MAS said in its media release.
The authority added that the upgraded platform had had 360 participating investors enrolled, and these investors would invest up to a total of 6.2 billion U.S. dollars in 2019 and an additional six billion dollars in 2020-2021 into 840 ASEAN enterprises.
Among these ASEAN enterprises, start-ups and growth stage enterprises are more popular, and about 60 percent of the investment allocation for 2019 was concentrated in FinTech, healthcare, and medical technology, as well as the information and communications technology sectors.
MAS said the MATCH conducted matchmaking exercise for enterprises and investors from May to September 2018. By now, the intended investment to be deployed has outnumbered the demand for financing from ASEAN enterprises participating in the platform.
"MATCH presents a great opportunity to ensure that private capital is deployed towards the development of promising ASEAN enterprises," said Jacqueline Loh, MAS's Deputy Managing Director, adding that both the supply of and demand for growth capital in ASEAN are in an upward momentum.
SINGAPORE, Oct. 22 (Xinhua) -- The Monetary Authority of Singapore (MAS) announced on Monday that it would launch a new platform that curates and matches promising next-generation ASEAN enterprises with global private equity and venture capital at the Singapore FinTech Festival 2018 this November.