EY to facilitate more SE Asia investments through startup-investor speed-dating MATCH | Digital Asia
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Ernst & Young has opened an opportunity for Southeast Asia's startups to get a share in a total of US$6.2 billion capital, to be deployed within this year.
ey came back to Singapore as a part of the third Singapore Fintech Festival, bringing in the new addition to the event called Meet Asean's Talents and Champions (MATCH) supported by Monetary Authority of Singapore (MAS).
MATCH is a portal that matches promising next-generation Southeast Asia enterprises with global private equity and venture capital. The matchmaking exercise for companies and investors happened from May to September 2018.
Over the course of three months, over 840 companies and 380 investors enrolled, resulted in over 17,000 investor-company matches made.
“We see a thriving entrepreneur and startup ecosystem across Southeast Asia, particularly in the technology and fintech sectors. Having said that, many SMEs continue to face challenges in seeking access to funding or opportunities to connect with the right investors. We would like to contribute to the startup and fintech ecosystem by providing a platform for them to connect, network and hopefully facilitate investment deals,” said Max Loh, EY ASEAN and Singapore managing partner, Ernst & Young LLP.
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Investors who have participated in MATCH showed interest in fintech, especially in blockchain, data analytics, and payment solution sub-sectors; healthcare, medtech, infocomm tech, business service, and education sector.
It has been said that these investors who are mostly private equity general partners and corporate venture planned to inject up to US$6.2 billion of capital for investments into Southeast Asia within this year, and another US$6 billion over the next two following years.
The Deal Day by EY and MAS was done on October 5, 2018, facilitated over 400 curated meetings between investors and prospective enterprises. “The speed-dating concept was seen as a value to the investors, as they are able to uncover potential startups in the event,” Loh added.
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MATCH will peak in the Global Investor Summit on November 13-14, 2018, another new part of the Singapore Fintech Festival 2018.
Photo by chuttersnap on Unsplash
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