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Peter Ong on connecting global capital with enterprises

Peter Ong, Chairman of Enterprise Singapore and Board member of Monetary Authority of Singapore spoke about ASEAN growth and enterprises during his speech at the Global Investor Summit during the Singapore Fintech Festival 2018, 13 November at Singapore Expo.

November 14, 2018 | Peter Ong

I would like to warmly welcome you to the Global Investor Summit. In this 3rd edition of the Singapore Fintech Festival, organized by Monetary Authority of Singapore, we have brought together the investment and the enterprise communities, showcasing the best of ASEAN growth ASEAN enterprises over the next 3 years. The interest shown by the investors in our region is indeed encouraging.

Strong momentum in private equity and venture capital investments in Asia & Asean

2017 marked the first year when Private Equity and Venture Capital investments into Asia overtook Europe for the first time. Investments into Asia grew 40% last year to reach US$ 160 billion, constituting some 28% of global investments. Fund-raising in Asia rose 6% to US$66 billion, indicating stronger interest and more dry powder to be deployed in the region.

ASEAN prospects have also improved. Private Equity and Venture Capital investments into ASEAN almost tripled to reach US$23.5 billion in 2017. Prominent deals included the US$2 billion funding round of Lazada by Alibaba, Grab closing its last funding round at US$2 billion and Go-Jek’s last funding round closing of US$1.5 billion

Going forward, momentum in ASEAN Private Equity and Venture Capital is expected to remain robust due to three main reason:
i) On the back of strong ASEAN economic growth, there is a rising need for capital to finance the regional expansion of high-growth companies.
ii) Companies are staying private longer. There is now a greater recognition among ASEAN companies that private capital is not simply just another source of funds, but also a form of ’smart capital’ that comes with technology, business knowhow and networks useful for companies to grow and scale.
iii) ASEAN immense infrastructure needs offer opportunities for investors to channel funds into bankable projects.

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Keywords:Global Investment, Enterprise, Fund Raising, Technology, Startup