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Miguel Cordon · · 1 min readSources: Andreessen Horowitz, another western VC major eye Singapore for expansion
“Singapore has been attracting the attention of major western VCs as they aim to find Southeast Asia’s next Grab, Gojek, and Sea,” The Ken reported citing Singaporean VCs briefed on the matter.
Details:
- Silicon Valley-based investment major Andreessen Horowitz is actively hiring to set up an office in the region, two sources said.
- Another foreign firm looking to expand into the city-state is London-based Social Capital Hedosophia, a late-stage VC firm that’s also recruiting for talent in Singapore, one of the sources said.
Context:
- While western investors have been actively looking for opportunities in Southeast Asia over the past years, three of the five most active investors in the region’s startups as of February this year still hail from Singapore.
- This development comes after Grab said it’s set to go public through a massive US$40 billion SPAC deal, while its Indonesian counterpart Gojek officially announced its merger with online marketplace Tokopedia.
Editing by Collin Furtado and Jaclyn Tiu
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