Fintech and logistics were among the major targets for investors pouring money into Southeast Asian startups in 2021. (Source photos by AP and Reuters)

'Gold rush': ASEAN startup fundraising more than doubled in 2021

Fintech and logistics lead growth as region mints 25 new unicorns

KENTARO IWAMOTO, Nikkei staff writer

January 31, 2022 06:00 JST

SINGAPORE -- Southeast Asian startups raised a record $25.7 billion in funding last year, more than double the previous year as cash-rich global investors seek to tap the region's potential amid digitalization driven by the COVID-19 pandemic.

With private equity and venture capital firms looking for investment opportunities to deploy capital they raised over the past year, experts say the Southeast Asian "gold rush" will continue in 2022, stoking momentum in the region's startup ecosystem. But a recent tech sell-off in public markets globally highlights a changing environment, potentially affecting the valuation of growth-driven startups.