asia

Venture capital funding in Southeast Asia at Record High

Funding by venture capital (VC) firms in South-east Asian start-ups has risen to a record so far this year, surpassing the total investments made in 2017, industry data showed. EVenture capital investments jumped to US$3.16bil (RM13.13bil) over the first eight months of this year, up 16% from US$2.72bil (RM11.3bil) for all of last year, the Singapore Venture Capital and Private Equity Association said.

“The environment has become much more vibrant with a number of players pouring money into the sector,” Thomas Lanyi, chairman of the association, told a news conference.

Technology startups are sprouting up across South-East Asia – home to about 640 million people – as companies seek to offer a range of services including ride-hailing, online payments and e-commerce, with consumers rapidly coming online.

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