South-east Asian angel investors still bullish on startups despite downturn

ANGEL investors are still making fresh bets on early-stage startups across South-east Asia, drawn by opportunities in up-and-coming sectors such as electric vehicles (EVs), as well as attractive valuations. This is despite the ongoing “tech winter” where institutional investors have tightened their purse strings.

“Downturns are the best time to angel invest. My best angel investments today were made in the early days of the recovery from the Great Recession,” said James Tan, a longtime angel investor whose post-2008 bets include classifieds platform Carousell and proptech startup 99.co.

In the current tech winter, Tan is bullish on opportunities in Malaysia, the Philippines, and Vietnam. He is also looking into climate and sustainability challenges that are addressable by startups.