Dealroom – South East Asia Tech Update, 1Q 2024

In the first quarter of 2024, South East Asian startups secured $1.4 billion in venture capital through 177 funding rounds. While total investment in the region is below recent years, the frequency of deal activity remains high, with 90 rounds raising over $2 million in Q1 surpassing numbers from 2019 and 2020. Early-stage VC investments in South East Asia are consistent with levels seen before 2021, but a decline in late-stage funding has had the biggest impact on overall investment totals. Breakout-stage VC activity in Q1 is also in line with trends in previous quarters.