ASEAN’s ‘Funding Winter’ Worsens on Grab, GoTo Slowdown

(Nikkei Asia) — 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.

Global interest rate hikes and the slowing business of listed tech giants like Singapore's Grab and Indonesia's GoTo — two benchmark companies for venture capital in the region — are weighing on the valuations of young companies and investor sentiment.