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)

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

June 5, 2023 06:00 JST

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.