Singapore has seen an influx of startups and venture capital in recent years. Several factors have contributed to this – from the city’s pro-business environment to its highly educated workforce.
Another factor contributing to the success of startups in Singapore is the availability of capital, with several active investors willing to invest in early-stage startups. The city-state is home to several unicorns, such as Grab and Sea Limited, and is a popular destination for startup founders and investors alike.
Fintech startups inked 127 deals worth US$2.06 billion in combined proceeds, equivalent to a quarter of the total deal volume in the first nine months.
This is a positive sign for the startup ecosystem in Singapore, which has been growing rapidly in recent years. And with the government’s new initiatives to support startups, it is expected to grow in the coming years.
Here are the eight most active fintech investors at Series A in Singapore based on deals closed between January to November 2022.
SBI Group
SBI Group is a financial services company based in Japan and was founded in 1999. The company operates several subsidiaries and affiliates that offer a wide range of financial products and services, including securities, investment banking, asset management, and insurance.
SBI Group operates several crypto-related businesses, including a cryptocurrency exchange and a blockchain-based remittance service.
The company recently invested in Series A funding of US$6.7 million for the financing platform banco (RABC Group). The firm also participated in a US$4.5 million seed round for Crypto firm SolanaFM.
Creador Private Equity
Creador is a Southeast Asia-focused private equity firm founded in 2011 by Brahmal Vasudevan. The firm’s primary focus is investing in growth-oriented companies in the consumer, healthcare, and education sectors.
The firm’s investment strategy is to identify and invest in high-growth companies and to work closely with the management team to build the company into a market leader.
One of its notable Series A investments is a US$11 million pre-Series A for Singapore-based fintech UNOAsia.
Jump Crypto
Jump Crypto is a division of Jump Trading Group based in Chicago, Illinois, USA, founded in 1999. It is a research-driven quantitative trading firm and one of the largest traders, by volume, across traditional asset classes.
Jump Crypto is building a cryptocurrency infrastructure to help the blockchain and all things Web3 grow.
It recently led a Series A funding round of US$13 million for Singapore fintech FOMO Pay.
Tiger Global
Tiger Global is a hedge fund and private equity firm that invests in public and private companies. The firm was founded in 2001 by Chase Coleman, with offices in New York, Hong Kong, and Singapore. Some of the firm’s notable investments include Fazz and WIZ.AI.
It led a Series A for HitPay, a Singapore-based one-stop payments platform for small and medium-sized businesses, amounting to US$15.75 million.
Jam Fund
Jam Fund, founded in 2020 by Justin Mateen, is a venture capital firm based in Los Angeles, California. The firm invests in pharmacy, finance, software, food, insurance, construction, healthcare, and technology sectors.
The firm led a US$29 million Series A funding for Singapore fintech Volopay last year.
ParaFi Capital
ParaFi Capital, founded by Ben Forman, is a crypto-focused venture capital firm that provides funding and support to early-stage companies in the blockchain and cryptocurrency space.
In October last year, it led a Series A funding round of US$18 million for Neo-banking crypto startup Juno to expand products and operations and launch its first tokenized loyalty program.
Yunqi Partners
Yunqi Partners specializes in early-stage investments in technology companies, particularly in the software and internet sectors. The firm, founded by Hu Quan and Zhi Tao, is based in China and has a global investment focus, particularly on startups in the US and Asia.
Singapore-based Safeheron secured US$ 7 million in a pre-Series A funding round led by Yunqi Partners to make private keys safer for crypto wallets.
Accel
Accel, founded in 1983, invests in early-stage technology companies. The firm focuses on a wide range of technology sectors, including software, internet, mobile, and healthcare. The company’s notable investments include Facebook, Slack, Dropbox, and Spotify.
Accel invested in Finbots.AI, an AI-powered credit scoring software provider, for US$3 million during a Series A funding round.
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- Source: https://fintechnews.sg/68989/funding/big-spenders-active-series-a-investors-in-singapore/
