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Is South-east Asia’s startup ecosystem stalling or simply maturing?

The region is not facing an exit drought. Here’s what is really happening

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    • South-east Asia can produce strong exits, but expectations were arguably set too high, too soon, says the writer.
    • South-east Asia can produce strong exits, but expectations were arguably set too high, too soon, says the writer. PHOTO: BT FILE

    DeeperDive is a beta AI feature. Refer to full articles for the facts.

    Paul Santos

    Paul Santos

    Published Fri, Mar 27, 2026 · 12:17 PM

    “WHY are there so few exits in South-east Asia?”

    This is a fair and increasingly common question from limited partners in venture capital (VC).

    With disappointing initial public offerings (IPOs), struggling unicorns and a funding slowdown since 2022, it is natural to ponder whether the rewards for investing in South-east Asia still justify the risk.

    Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.

    Wealth & InvestingStartupStartup fundingSouth-east AsiaVenture capital

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