Indonesia, Singapore Lead Southeast Asia in Raising Venture Capital

Indonesia, Singapore Lead Southeast Asia in Raising Venture Capital
You X Ventures/Unsplash | Illustration

Indonesia and Singapore currently dominate venture capital (VC) fundraising in Southeast Asia despite a slower pace of capital raising in the first quarter this year, the Vietnam News Agency (VNA) reported.

 According to the latest report by DealStreetAsia, Indonesia raised US$161 million (RM699.4 million) in the first three months of 2020, while Singapore ranked first in the region with US$865 million over the same period.

 No closures were recorded by VC funds in Cambodia, Malaysia, Thailand or Vietnam, the report said. 

 In a statement on Tuesday, head of DealStreetAsia Asean market research division Andi Haswidi said that the first-quarter fundraising performance did not reflect the true impact of the Covid-19 pandemic.

 Most of the capital committed by investors to VC funds in the first quarter was actually solicited before the region began to tighten social-distancing measures in April, he said.

 VC funds in the region accumulated US$1.3 billion in the first three months of this year, ending a year-long streak of quarter-on-quarter growth.

 Andi went on to say that the outlook for VC raising in the region is expected to deteriorate in the coming months as the full impact of the Covid-19 pandemic starts to affect the fundraising process.


Source : Bernama | The Edge Market

Indah Gilang Pusparani

Indah is a researcher at Badan Perencanaan Pembangunan Penelitian dan Pengembangan Daerah Kota Cirebon (Regional Development Planning and Research Agency of Cirebon Municipality). She covers More international relations, tourism, and startups in Southeast Asia region and beyond. Indah graduated from MSc Development Administration and Planning from University College London, United Kingdom in 2015. She finished bachelor degree from International Relations from University of Indonesia in 2014, with two exchange programs in Political Science at National University of Singapore and New Media in Journalism at Ball State University, USA. She was awarded Diplomacy Award at Harvard World Model United Nations and named as Indonesian Gifted Researcher by Australian National University. She is Researcher at Regional Planning Board in Cirebon, West Java. She previously worked as Editor in Bening Communication, the Commonwealth Parliament Association UK, and diplomacy consulting firm Best Delegate LLC in USA. Less
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