Indonesia and Singapore currently dominate enterprise capital (VC) fundraising in Southeast Asia despite a slower pace of capital raising in the primary quarter of this yr, Vietnamese news agency (VNA) reported.
According to the most recent report by DealStreetAsia, Indonesia raised US$161 million (RM699.4 million) in the primary three months of 2020, while Singapore topped the region by raising US$865 million in the identical period.
The report shows that VC funds in Cambodia, Malaysia, Thailand and Vietnam didn’t record any closures.
In an announcement on Tuesday, DealStreetAsia Asean head of market research Andi Haswidi said first-quarter fundraising performance didn’t reflect the true impact of the Covid-19 pandemic.
Most of the capital committed by VC investors in the primary quarter was actually raised before the region began tightening social distancing rules in April, he said.
VC funds within the region raised $1.3 billion in the primary three months of this yr, ending a year-long streak of quarter-over-quarter growth.
Andi further added that the region’s VC fundraising prospects are expected to deteriorate in the approaching months as the total impact of the Covid-19 pandemic begins to affect the fundraising process.
Source: Bernama | Shore market
