Attractive fundamentals across demographics, key economic indicators and the continued interest from VC investors has made SEA the leading choice for investment activity. A heads-up to this was visible in 2018, when 5,066 deals, the second-highest after North America, worth $81 billion were made in Asia. True to the prophecy, till around the H12020, SEA-focused VC firms had raised $1.33 billion in capital commitments in Q12020, over 3 times during the same period a year ago. SEA-based VC firms had US $4.2 billion in capital and out-of-region VCs coughed up US$1.6 billion.
Out of the US$1.33 billion raised in Q1, US $ one billion came from SEA-based fund managers. Singapore and Indonesia garnered fund closings of US$865 million and US$161 million respectively. This is largely attributed to the VCs receiving the capital committed by investors before the region tightened its social-distancing norms in April. They were also well capitalised and with ample arsenal of dry powder. Vietnam, Malaysia, Thailand and Cambodia did not record any closes. Reportedly, some 42 SEA-based VCs were looking for US$4.9 billion, while another 11 VCs outside the region were looking to raise US$1.2 billion. This was the scenario prior to the full-impact of the pandemic being reflected in the numbers.
2020 IN RETROSPECT
This story is from the March 2021 edition of Entrepreneur magazine.
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This story is from the March 2021 edition of Entrepreneur magazine.
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