SEA-focused funds witness weaker fundraising in Q2 amid pandemic curbs

Five Southeast Asia-focused funds secured a final close in the second quarter of this year, raising a total of $1.1 billion. While the total is three times higher than the previous quarter, DealStreetAsia’s latest research and analytics report shows that VC fundraising weakened during the quarter as a result of pandemic-induced national lockdowns.

More than 70 per cent of the final close value came from B Capital Group, which concluded its second fund in June at $820 million. The fund had made its first close in April 2019 at $406 million and then achieved its original target of $600 million in February. The fund was eventually closed in June after the company raised another $220 million.

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