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Business trends

Singapore is top in luring ASEAN-focused fund managers

Welcoming policies in tax and corporate structure draw in venture capital

Singapore edges ahead of regional peers in drawing private equity and venture capital to the country. (Photo by Akira Kodaka)

SINGAPORE -- A decade ago, Golden Gate Ventures was one of a clutch of investors invited by Singapore's National Research Foundation, a government agency responsible for nurturing research and development in the city-state, to set up venture funds to stimulate the startup industry.

This was before startups in the Association of Southeast Asian Nations received the level of attention from investors they enjoy today, with unicorns like Bukalapak, Grab and GoTo -- digital businesses each valued at over $1 billion -- demonstrating the entrepreneurial prowess of enterprises within the 10-member bloc.

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