Singapore is looking to increase its investments in Israel, and serve as a bridge to the wider Asian market.
“We notice there’s a gap down there. Israeli companies don’t come to Asian that often. We realized that this is an opportunity for us,” said Alex Lim, Global Head of Infocomm Investments (IIPL), a new $200 million Singaporean Government backed fund to invest in start-ups & growth stage companies around the world.
Lim, who was part of a business delegation in Israel last week, said Israel’s expertise in a variety of fields such as big data, smart cities and cyber security were an attractive draw for the city-state, which shares several commonalities with Israel.
Both are high-tech nations with small populations, meaning they have to turn to broader markets. For Israel, he said, the US may seem a natural choice, but Asia has a lot to offer.