Back in 2019, Asia Partners predicted that SE Asia would be home to 35 billion-dollar tech companies by 2029. That target has already been surpassed as SE Asia added 24 such firms between 2019 and 2021, thanks to rapid digitalisation on account of the pandemic. What’s more, at least 20 billion-dollar tech companies will be created between now and 2029 in the region, according to an upwardly revised estimate by Asia Partners in its 2022 Internet Report. And, nearly half of these 20 companies will pursue IPOs over the next decade.
A lot of that action is playing out in Indonesia, a country with a GDP of $1.16 trillion and a population of 270 million. The report finds that SE Asian markets, particularly Indonesia, have outgrown even Greater China and India in the pace of deal-making at the Series C/D stages or growth capital play.
Nash, a strong advocate of the SE Asia growth story, spent over a decade at General Atlantic before moving to Sea Group, where he led the largest-ever SE Asian internet IPO, a $989-million offering on the NYSE in 2017. He left Sea Group in December 2018 to launch Asia Partners, which seeks to bridge the growth-stage funding gap by investing $20 million to $100 million into Southeast Asian tech startups.
Join this data-led session to get a deep overview of the region’s maximum market.