Standard Chartered Private Bank global head Peter Flavel recently opened Singapore's first speed funding event with UK company Angels Den.

Flavel said that the private bank is delighted to be involved in such an initiative which helps local businesses in the city-state find funding through angel investors. Angel investors are high net worth individuals looking for promising business start-ups to place their personal funds on, usually in exchange for ownership equity or convertible debt.

"Angel investing is a hot topic at the moment with Singapore leading the way in Asia," said Flavel. "Standard Chartered has supported entrepreneurial activity in Asia for 150 years and many of our high net worth clients started as entrepreneurs."

Angels Den was founded by Bill Morrow, who was very impressed by the event's success in Singapore.

"For every entrepreneur to receive at least one firm interest and also every Angel to express an interest in at least one project is quite phenomenal in our first event in Singapore," commented Morrow.  

"We have been so impressed with the quality of businesses looking for funding and our one to one approach through SpeedFunding has obviously paid dividends for all of the entrepreneurs involved."

The next Angels Den event in Singapore is scheduled at the end of April.