Singapore has announced the formation of a Growth Capital Workgroup, chaired by Chee Hong Tat, Minister for National Development and Deputy Chairman of the Monetary Authority of Singapore (MAS). The workgroup, unveiled during the 2026 Budget Statement, will develop strategies to strengthen Singapore’s position as a leading centre for growth capital. It will include key private sector stakeholders and public sector representatives, supported by MAS and the Ministry of Trade and Industry.
Traditionally reliant on bank loans, Asian economies could benefit from more diverse capital sources. As global investors seek to manage risks and capture new opportunities, Singapore aims to become a hub for growth capital in Asia. The workgroup will explore measures to enhance venture capital, private equity, private credit, and securitised assets, building on the Equities Market Review Group’s efforts to boost Singapore’s equities market.
The workgroup will focus on the full financing value chain, from deal origination to capital recycling, supporting Singapore’s startup ecosystem and helping enterprises scale regionally and globally. The group aims to complete its review by the end of 2027, with interim updates on its recommendations.
The workgroup’s members include prominent figures such as Andy Tai from Goldman Sachs, Bryan Yeo from GIC Pte Ltd, and Tan Su Shan from DBS Group. Their collective expertise will guide the development of strategies to enhance Singapore’s capabilities in deal origination, capital raising, and capital recycling.
