Startup exits slow to two acquisitions, one IPO in April to May

This is down from 11 acquisitions in the previous quarter.

Singapore startup exits were limited to acquisitions between 1 April and 31 May, with one initial public offering (IPO) recorded during the period, according to data compiled by market intelligence platform Tracxn.

A total of two acquisitions were completed during the period, compared to 11 acquisitions in the first quarter (Q1) of 2026. There was one IPO, compared with three IPOs in the previous quarter. In comparison, Q2 2025 recorded four IPOs alongside 12 acquisitions.

The acquisitions during the April-to-May period included deals across early and growth-stage companies, although individual transaction values were not disclosed in the dataset.

Late-stage funding represented the largest share when it comes to stagewise funding totalling $157.8m during the period. Seed-stage funding reached $52.2m, whilst early-stage rounds raised $3.7m. 

The largest deal during the period was Silicon Box’s $150m round backed by EDBI, followed by Simple Chain’s $15m investment, Biobot Surgical’s $7.85m round led by ZIG Ventures, Brano Therapeutics’s $6.8m raise, and Atlas’s $6m round.

Vertex Ventures recorded two investments in FORMAS.AI at $3.98m and ReN3 at $5m. This was followed by Betatron Venture Group’s $3.7m investment in CubeAsia, KieDex’s $3.5m, and Golden Gate Ventures’ $1.7m investment in Ortcloud.

CMC Capital completed one private equity deal in Growth GPT, with the investment amount undisclosed.