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Southeast Asian startup scene shows increased investment potential

Southeast Asian start-ups have increased investment potential as pandemics have changed their dynamics over the long term, said one of the region’s leading venture capital firms.

Despite its “catastrophic” effects, the recession provided “Many opportunities” for new startups In the region, Indonesia-based East Ventures managing partner Roderick Purwana told CNBC on Monday that many new businesses were formed during this period.

In particular, new businesses related to digital recruitment, such as education technology, health technology, and financial technology, are true success stories, he said.

In any crisis, it also brings opportunities. We have seen it, not just in this part of the world.

Roderick Purwana

Managing Partner, East Ventures

“Any crisis brings opportunities. We have seen it, not just in this part of the world,” Purwana said.Street sign asia.. “

“We’ve seen some of the largest or most successful start-ups and tech companies founded during this time,” he said, historic in the past, such as the dot-com bust and the 2008 financial crisis. I quoted the recession. “I don’t think this makes a difference.”

Purwana’s comments come from Southeast Asian start-ups making steady progress on the global stage.

Indonesian Ride Hailing Giant on Monday Gojek announced that it has merged with e-commerce player Tokopedia Form a GoTo group. The deal is considered a preemptive move as the company is preparing to publish at an estimated $ 35 to $ 40 billion valuation.

Prior to the announcement, Mr. Purwana said the recent hype in the region has made the rating “a little bubbly.” Still, he added that they remained “reasonable” overall and that it was “definitely positive” to see their names now entering the public market.

This includes public listings through special purpose acquisition companies (SPACs), which are gaining popularity throughout the region around the world. Last month, the region’s ride-haling giant, Grab, announced it would be unveiled on the Nasdaq. Nearly $ 40 billion SPAC merger.

“SPAC sees some of these tech companies as an opportunity to open up the US public market,” he said. “Maybe the noise will be fixed to some extent, but in the long run I think it will remain.”

https://www.cnbc.com/2021/05/18/southeast-asias-start-up-scene-shows-increased-investment-potential.html Southeast Asian startup scene shows increased investment potential

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