Singapore's venture capital scene looks set for a 'pretty decent' 2023 despite global pullback, says investment firm
Global venture dollars may have dropped in 2022, but Singapore's deep tech investor is optimistic about 2023.
"2023 is probably going to be a pretty decent year for venture capital in Singapore," Hsien-Hui Tong, executive director of investments at SGInnovate, told CNBC's "Squawk Box Asia" Wednesday. Unlike global markets more generally, the venture capital scene in Singapore is "still very active," Tong said. That's because companies in the country tend be at an earlier stage of development, and "in the seed and Series A stages, there's still lots of liquidity. There's lots of capital there," he added.
Singapore's tech start-up scene has grown in recent years, and the city-state ranked seventh in the latest Global Innovation Index 2022., but Singapore's government-owned tech investment firm is optimistic about 2023. "2023 is probably going to be a pretty decent year for venture capital in Singapore," Hsien-Hui Tong, executive director of investments at SGInnovate, told CNBC's "
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