Forget the unicorn – the US$50 million exit is the new South-east Asia dream

JEREMY Tan and Murli Ravi, co-founders of Tin Men Capital, have been watching South-east Asia’s B2B technology landscape since 2017 and argue the market is finally moving beyond its obsession with unicorns.

They see a more practical future built on smart spending, acquisitions, and pressure on local giants to either innovate or get left behind.

B2B provides a resilient alternative

Tan believes the B2C model’s reliance on heavy funding makes it fragile within South-east Asia’s market. In contrast, he believes B2B software offers a more stable path. With better profit on sales and predictable revenue, software companies can grow without constantly chasing the next funding round.