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Venture capital companies are facing a tougher fundraising environment, as U.S.-based investors have grown wary following the banking crisis that started in March. (Source photo by Reuters)
Market Spotlight

ASEAN's VC 'funding winter' worsens on Grab, GoTo slowdown

Wary venture capital investors slash valuations of startups as interest rates rise

TSUBASA SURUGA, Nikkei staff writer | Singapore

SINGAPORE -- Funding for Southeast Asian startups is headed for the worst half year since before the pandemic, as venture capital investors scale back their valuations of fledgling companies.

Global interest rate hikes and the slowing business of listed tech giants like Singapore's Grab and Indonesia's GoTo -- two benchmark companies for venture capital in the region -- are weighing on the valuations of young companies and investor sentiment.

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