Top 5 Most Active Fintech Investors in Singapore Are Web3 Players

We already know that Web3 is a burgeoning industry but new data from Elevandi has shown that the most active investors also come from the sector.

In a report from Elevandi titled "Fintech Investors: Q2 2024", the Monetary Authority of Singapore (MAS) led not-for-profit organization found that Singapore saw a 26% decline in fintech investors in the first half of 2024 compared to the first half of 2023.

Comparatively, Hong Kong saw 172% growth (largely due to Hashkey's $100 million raise), the UK experienced 188%, and the US went through -28%. This equated to US$930 million in Singapore, $385 million in Hong Kong, $7.39 billion in the UK, and $27.2 billion in the US.

In Q2 2024, $336 million was raised from 22 deals in Singapore, including one deal over $100 million between Grab and Singtel.

By verticals, blockchain and decentralized finance (DeFi) investments in Singapore represented 10% of deal value, at $90 million in 1H 2024 while digital assets represented 13%, at $122 million.

The report also found the most active investors in fintech over 1H 2024, defined as those with a minimum of $100 million in assets under management, measured by the number of fintech deals in the last six months.

All of the top five most active investors in Singapore are native Web3 players. Topping the list in Singapore is OKX Ventures with eight deals, followed by Animoca Ventures and Hashkey Capital with five, Binance Labs with four, and Big Brain Holdings with three.

On a global scale, the top five most active investors are also heavily exposed to Web3 projects: Techstars, a16z, OKX Ventures, Blockchain Founders Fund, and Animoca Ventures. Two of these investors (a16z and OKX) are headquartered in Singapore too.

"OKX Ventures, Animoca Ventures and Hashkey Capital were the most active investors in Singapore for 1H 2024," Elevandi said in the report of its conclusion. "It is noted that top five most active investors by deal count are in Digital Assets and Blockchain & DeFi. This activity is similarly reflected globally, with three of the global top five most active investors all in Blockchain and Web3."

Elevandi explained that the appeal of Singapore as a Fintech hub is "anchored by y its supportive regulatory framework, robust infrastructure, and a thriving talent pool."