THE government will provide up to $250 million as initial seed capital for public-private co-investment funds to be set up later this year to invest in Singapore firms, part of a broader initiative to help Singapore businesses attract more private capital to grow.
In an unexpected move, it also announced tax incentives to encourage rich individuals, or 'angel investors', to invest in start-up companies.
In addition, the government confirmed that it was studying how best to set up a specialised financial institution to plug gaps in the supply of cross-border financing for Singapore firms, similar to the export credit agencies or export-import (Exim) banks elsewhere - as recommended by the Economic Strategies Committee (ESC) earlier this month.
To read the full, original article click on this link: Tax wings for angels to lift funds for firms - February 23, 2010
Author: CONRAD TAN
