Startup fundraising in SE Asia halved in 2023 to $7.96b

Startup fundraising in SE Asia halved in 2023 to $7.96b

Photo: kaleb tapp / Unsplash.com

Private capital raised by startups in Southeast Asia plummeted 51% year-on-year in 2023 to $7.96 billion as macroeconomic factors weighed heavily on investor sentiment. The region witnessed 718 venture deals last year, down 30% from 2022, according to the Southeast Asia Deal Review 2023 report by DealStreetAsia and multi-stage investment company Rigel Capital.