Singapore’s government has announced the launch of a S$1b Private Credit Growth Fund as part of Budget 2025, aimed at enhancing access to private credit for high-growth, sponsor-backed companies.
Paul Ong, Partner at Innoven Capital Southeast Asia, expressed enthusiasm for the initiative, which aligns with the firm’s mission to provide innovative financing solutions across Asia.
The fund is designed to empower local enterprises to scale effectively, drive innovation, and contribute to Singapore’s economic growth.
Innoven Capital, a leading venture and growth debt provider in Asia, has been actively supporting startups in optimising their capital structures and achieving sustainable growth.
Ong stated, “The establishment of the Private Credit Growth Fund not only complements our efforts but also underscores the critical role of alternative financing in an emerging new digital economy.”
This initiative is expected to foster a robust environment where local enterprises can thrive and expand regionally. Innoven Capital looks forward to collaborating with stakeholders to leverage this opportunity.
The fund’s introduction highlights the importance of alternative financing in supporting the growth of Singapore’s digital economy and the broader regional market.
As the government continues to focus on economic development, the Private Credit Growth Fund represents a significant step in supporting the financial needs of high-growth companies, ensuring they have the resources necessary to innovate and expand.
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