SINGAPORE is introducing a new S$1 billion Private Credit Growth Fund to provide more financing options for high-growth local enterprises, said Finance Minister Lawrence Wong in his Budget speech on Tuesday (Feb 18).
Wong, who is also prime minister, noted that the private credit market has gained traction globally, as it offers innovative financing solutions to enterprises.
Yet, few of these funds focus on Asia, and much less on Singapore-based enterprises.
“We now have a more vibrant financing ecosystem, backed by a growing network of angel investors, venture capitalists, and private equity firms,” the finance minister said.
He noted that companies need capital to grow.
The government has already launched investment funds which invest in prominent companies alongside commercial partners. In the past five years, some S$1.8 billion was also set aside to support enterprise growth through investment funds.
Minister for Trade and Industry Gan Kim Yong will announce more details at the Committee of Supply.
For more Budget stories, visit businesstimes.com.sg/singapore-budget-2025
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