Fundraising remains tough in ASEAN despite capital stabilisation: January Capital report

The State of the ASEAN Technology Ecosystem Report CY2024 by January Capital reveals stabilising capital deployment but a decline in overall deal volume, with fundraising challenges for founders. Funding by stage shows a scarcity of seed capital, while later-stage financing rounds see improvements in deal size. Geographically, Singapore and Indonesia remain active markets, with emerging opportunities in Malaysia, Thailand, and the Philippines. Fintech dominates sector-specific funding, with AI investments lagging behind. The founder journey highlights fundraising challenges and investor priorities in the region.

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