News & Analysis

driven by the PitchBook Platform

Southeast Asia

Singapore beats larger markets for VC funding per capita

By a significant margin, Singapore is the country with the most venture capital funding per capita so far in 2023.

By Leah Hodgson

Published

Singapore has topped out as the country with the most venture funding per capita in 2023.

Startups in the Southeast Asian city-state have pulled in $6.4 billion in total. Based on its population of just over 6 million, Singapore gained $1,060 in VC funding per person so far this year.

The world’s largest VC ecosystem, the US, took second place with $345 per person. Israel ranked third with $344.

Out of the top 10 countries—which is limited to those that have raised at least $500 million in funding with a minimum of 100 deals—60% are European nations. New entrant Ireland placed the highest in the region at $317 per capita.

Featured image of Singapore by Buena Vista Images/Getty Images

Learn more about our editorial standards.

About Leah Hodgson

Leah Hodgson is a London-based senior reporter for PitchBook, covering the venture capital ecosystem across Europe and the Middle East. Leah, who joined PitchBook in 2018, graduated from the University of Surrey with a BA in international politics with French. She has previously been a radio reporter in France. She later turned to financial journalism, covering the wealth management industry.