A Singapore FinTech Festival programme has attracted US$12 billion for enterprises

The Business Times

A new component introduced at this year’s Singapore FinTech Festival has possibly attracted more than US$12 billion (S$16.6 billion) in capital for Asean enterprises over the next three years.

According to the Monetary Authority of Singapore (MAS), the Meet Asean’s Talents and Champions (MATCH) segment run from May to September this year saw investors indicating investments of up to US$6.2 billion in 2019. An additional US$6 billion has also been earmarked over the subsequent two years.

More than 17,000 matches have so far been made between the 380 investors and 840 enterprises in sectors not limited to FinTech.

Investors showed the most interest in start-ups and growth stage enterprises, and around 60 per cent of the investment allocation is concentrated in FinTech, healthcare and medical technology, and information and communication technology.

A “Deal Day”, hosted on Oct 5 by MAS and Ernst & Young, also resulted in more than 400 meetings to introduce prospecive investors to the enterprises.

Another new component called the Global Investor Summit will be held from Nov 13 to 14 as part of the 2018 Singapore FinTech Festival. Targeted at investors and enterprises, it will feature themes such as capital raising strategies, building businesses across borders, investors’ outlook and leaders’ dialouges.