Indonesia, Singapore lead Southeast Asia in raising venture capital
Indonesia and Singapore currently dominate the venture capital (VC) fundraising in Southeast Asia, despite a slower pace of capital raising in the first quarter this year.
Jakarta (VNA) - Indonesia and Singapore currently dominate the venture capital (VC) fundraising inSoutheast Asia, despite a slower pace of capital raising in the first quarterthis year.
According to the latest report by Deal Street Asia, Indonesia raised 161million USD in the first three months of 2020, while Singapore ranked first inthe region with 865 million USD over the same period.
No closures were recorded by VC funds in Cambodia, Malaysia, Thailand orVietnam, the report said.
In a statement on May 19, head of Deal Street Asia ASEAN’s market researchdivision Andi Haswidi said that the first-quarter fundraising performance didnot reflect the true impact of the COVID-19 pandemic.
Most of the capital committed by investors to VC funds in thefirst quarter was actually solicited before the region began to tightensocial-distancing measures in April, he said.
VC funds in the region accumulated 1.3 billion USD in the first three months ofthis year, ending a year-long streak of quarter-on-quarter growth.
Andi went on to say that the outlook for VCraising in the region is expected to deteriorate in the coming months as thefull impact of the COVID-19 pandemic started to affect the fundraising process./.
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Illustrative image (Photo: internet)
