SE Asia’s VC firms report lacklustre fundraising performance in 2020

Manila, the Philippines. Photo by Aeron Oracion on Unsplash

Southeast Asia’s venture capital firms raised $1.96 billion in 2020, a 39% drop from the $3.23 billion they secured in 2019, according to DealStreetAsia’s latest report.

According to SE Asia’s VC Funds: Q4 2020 Review, venture firms based in the region closed 11 funds last year, down from 28 in the previous year, as travel restrictions imposed in the wake of the COVID-19 pandemic and increased limited partner (LP) caution affected fundraising. On the other hand, Southeast Asia witnessed a growing interest from global VCs wanting to tap into the emerging market growth story.

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