SINGAPORE -- Southeast Asian startup fundraising slowed in 2022 with deal value contracting by about a third from a year earlier as worsening economic conditions dampened both the prospects and valuations of young tech companies seeking growth capital.
The weak result comes after an investing frenzy in 2021 when total deal value soared to a record $25.75 billion. That year some of the region's biggest startups like Singapore's Grab went public before aggressive rate hikes brought a deep sell-off and market correction for loss-making tech companies.
