Monetary Authority of Singapore to support Growth Capital Workgroup to develop measures for venture capital private equity and private credit markets

Singapore’s Prime Minister and Minister for Finance has announced the establishment of a Growth Capital Workgroup, supported by the Monetary Authority of Singapore (MAS) and the Ministry of Trade and Industry, to develop strategies to strengthen Singapore as a leading centre for growth capital. Chaired by Mr Chee Hong Tat, Minister for National Development and Deputy Chairman of MAS, the workgroup will recommend measures to support the financing needs of companies from Singapore and the region across different growth stages. The review will explore and recommend measures to deepen growth capital markets beyond traditional bank lending, covering venture capital, private equity and private credit as well as securitised assets. It will assess the full financing value chain from deal origination and capital raising and mobilisation to capital recycling, building on work to improve the competitiveness of Singapore’s equities market and complementing recommendations from the Economic Strategy Review Mid-term Update. The Terms of Reference and composition are set out in an annex. The workgroup aims to complete its review by end-2027 and will provide interim updates on its recommendations.