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In 2022, VC deal value in the country dipped by 3% to US$10.99 billion while the volume fell by 11% to 651, according to a report by DealStreetAsia in partnership with Enterprise Singapore.
However, 2022 was the second-best best year in terms of deal volume and value so far for the city-state, with the top year being 2021.
Singapore continues to be Southeast Asia’s capital for venture financing, contributing to around 63.8% of the deal value and 56.3% of the deal volume in the region last year.
The report revealed that investments in businesses under Singapore’s Smart Nation and Digital Economy domain increased by 3% in value to US$9.04 billion.
Meanwhile, investments in manufacturing, trade, and connectivity rose by 36% in volume and 15% in value.
The same year saw the median value of seed rounds surge by 82.4% to US$2.7 million. For series A funding, the median value jumped by 60% to US$10 million.
See also: Capital SEA: Southeast Asia’s funding landscape (updated 01 Mar 2023)
Editing by Miguel Cordon and Dhania Putri Sarahtika
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