Southeast Asian startup deals hit record number in first half

Bloomberg

Venture backers made a record number of investments in Southeast Asian startups in the first half of this year, though the value of those deals declined as investors focus on early stage deals in the region’s burgeoning internet scene.
There were 393 investments across the region in the first half, topping the previous record of 375 in the first
half of 2019, research from
Singapore’s Cento Ventures showed. Total capital raised was $4.4 billion, down from $5.8 billion a year earlier. The fall is mainly attributable to less outsized fundraising by unicorns such as Grab Holdings that dominated the region’s capital raising in the past as they are seeking to go public.
The average deal size fell to $11.2 million from $17.7 million a year earlier as investors focused on early-stage investments. Less than 10% of the deals were series C rounds or later, while the vast majority were series B, series A or pre-series A.