SINGAPORE CAPITAL TO FOCUS ON ASIA

SINGAPORE CAPITAL TO FOCUS ON ASIA

Singapore's burgeoning venture capital industry is increasingly targeting its investment to China and Indochina, according to a survey by the state Economic Development Board.

"Investment focus within the venture capital industry is shifting more to Asia in view of the booming regional economies of China, Indochina and Southeast Asia," the board said.Singapore-based venture capital funds under management have grown, to S$2.64 billion (US$1.6 billion) from S$161 million in 1985, with increases averaging around 50 percent each year, it said.

Of the S$2.64 billion, two-fifths were sourced from Singapore. About S$1.5 billion has been invested.

The board said 41 percent of the total investment has been channeled into Singapore, 38 percent into the rest of Asia, 20 percent into the United States and 1 percent into Europe.

The Singapore venture capital industry has 21 fund management companies.