Private Credit Growth Fund (PCGF)
The Private Credit Growth Fund (PCGF) is a S$1 billion fund established to provide non-dilutive, customised financing for high-growth local enterprises. It addresses a significant gap in Asia's private credit market, where few funds focus on Singapore-based enterprises. The fund provides customised financing solutions that may not be readily available in Asia through traditional financing today. It supports growth activities such as international mergers & acquisitions (M&As) and large capital overseas expenditures, along with specialist advisory services in areas like M&A strategy, financial management, and supply chain improvement. The fund is complemented by a separate S$200 million Long Term Investment Fund (LTIF), which targets enterprises with longer or more complex growth trajectories.
Eligibility Criteria
- 01
High-growth local (Singapore-based) enterprises
- 02
Companies seeking to scale globally and compete on the international stage
- 03
Enterprises needing financing for international M&As and large overseas capital expenditures
- 04
Must meet eligibility criteria set by fund manager (Apollo)
How to Apply
1. Details announced progressively after fund manager (Apollo) appointment in July 2025 2. Enterprises likely apply through EnterpriseSG or Apollo directly 3. Check MTI/EnterpriseSG channels for updates as no dedicated public portal announced
Claims and Disbursement
Not applicable (this is a financing fund, not a reimbursement grant)
Frequently Asked Questions
Few private credit funds in Asia focus on Singapore-based enterprises. Private credit provides non-dilutive financing — companies don't give up equity or ownership stakes.
A complementary S$200 million fund for enterprises with longer or more complex growth trajectories (e.g., longer product development cycles, niche/nascent sectors with longer gestation periods).
Apollo was appointed as fund manager in approximately July 2025.
Specialist advisory services in M&A strategy, financial management, and supply chain improvement.
Focus is on high-growth enterprises seeking global scale, across sectors. Specific sector preferences determined by the fund manager.
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