Investors looking at Southeast Asia, India due to China crackdown on big tech
Sunday, July 3, 2022
  • Circulation
  • Advertise
  • About Us
  • Contact Us
Organiser
  • ‌
  • Bharat
  • World
  • Editorial
  • Analysis
  • Opinion
  • Defence
  • Sports
  • Business
  • More
    • RSS in News
    • Special Report
    • Culture
    • Sci & Tech
    • Entertainment
    • Education
    • Books
    • Interviews
    • Travel
    • Health
    • Obituary
SUBSCRIBE
No Result
View All Result
Organiser
  • ‌
  • Bharat
  • World
  • Editorial
  • Analysis
  • Opinion
  • Defence
  • Sports
  • Business
  • More
    • RSS in News
    • Special Report
    • Culture
    • Sci & Tech
    • Entertainment
    • Education
    • Books
    • Interviews
    • Travel
    • Health
    • Obituary
No Result
View All Result
Organiser
No Result
View All Result
  • Home
  • Bharat
  • World
  • Editorial
  • Opinion
  • Analysis
  • Culture
  • Defence
  • RSS in News
  • Subscribe
Home World

Investors looking at Southeast Asia, India due to China crackdown on big tech

Beijing's regulatory crackdown on tech companies has prompted startup investors to look for new markets in Southeast Asia, including India.

WEB DESK by WEB DESK
Jun 1, 2022, 01:30 pm IST
in World
Representative Image

Representative Image

Share on FacebookShare on TwitterTelegramEmail

Tokyo [Japan]: Beijing’s regulatory crackdown on tech companies has prompted startup investors to look for new markets in Southeast Asia, including India.

Wataru Suzuki, writing in Nikkei Asia, said that venture capital (VC) firms that back startups in Southeast Asia and India are raising record sums for new funds.

Southeast Asia- and India-focused VC funds have raised USD 3.1 billion so far in 2022, already nearing the USD 3.5 billion they raised last year, according to data from research company Preqin.

Download Organiser App

In comparison, fundraising by China-focused VCs fell sharply from USD 27.2 billion in 2021 to just USD 2.1 billion, said Wataru.

“Fifty per cent of the investors we spoke to are trying to diversify out of China,” said Amit Anand, co-founder of Singapore-based Jungle Ventures, which recently raised USD 600 million for new funds to invest in Southeast Asia and Indian startups.

Jungle Ventures plans to make “concentrated” investments in 15 to 18 companies with an even split between the two regions, Anand said.

Earlier this month, Singapore-based East Ventures said it raised USD 550 million to invest in startups in Southeast Asia, bringing assets under management to more than USD 1 billion. In April, India’s Elevation Capital said it raised its largest-ever fund with USD670 million, reported Nikkei Asia.

VC funds raise money from investors that range from pension funds and university endowment funds to wealthy tycoons. Southeast Asia and India have emerged as attractive markets due to the fast growth of startups in both regions in recent years, culminating in a series of blockbuster listings last year from the likes of Indian food delivery company Zomato and Singaporean superapp Grab, added Wataru.

At the same time, there has been what observers call a dramatic change in policy by the Chinese government. Beijing banned for-profit tutoring last year, crippling the business models of online education companies, many of which were backed by foreign venture capital firms.

That led to large paper losses: SoftBank Group wrote down its USD 700 million investment in Zuoyebang, the developer of an app that helped students with their homework, to USD 100 million by March.

China also introduced tougher rules on large tech platforms, including measures to promote competition and regulations on handling user data.

The moves caused shares of large publicly listed companies like Alibaba Group Holding and Tencent Holdings to fall sharply, Nikkei Asia reported.

The executive added that funds focused on India and Southeast Asia are quickly oversubscribed because the size of the venture capital market is still much smaller than China. (ANI)

 

Topics: IndiaChinaSoutheast Asia
Share14TweetSendShareSend
Previous News

Chinese yuan weakens to 6.6651 against US dollar

Next News

BJP steps up attack on Kejriwal, AAP on Satyender Jain’s arrest

Related News

All Above 18 Eligible for Vaccination From May 1, Announces Centre

India’s COVID vaccination coverage exceeds 197.95 cr

Prime Minister Narendra Modi speaks to Russian President Putin on phone

Amid tough balancing roles, PM Modi speaks to Putin

Discounting Black Sheeps, Country Stands United to Fight the New Wave of Covid-19

India reports 17,070 new COVID cases in last 24 hours

‘Rape, pregnant or love affair? Mamata Banerjee on Nadia rape case; BJP lashes out at CM’s ‘shameful’ remark

‘Centre wants to give jobs to BJP workers’: CM Mamata Banerjee on Agnipath Scheme

Govt of India sets ball rolling for hosting G-20 in 2023

Govt of India sets ball rolling for hosting G-20 in 2023

Bangladesh PM Sheikh Hasina thanks PM Modi for rescuing its citizens under ‘Operation Ganga’

India-Bangladesh Connectivity on High Octane

Comments

The comments posted here/below/in the given space are not on behalf of Organiser. The person posting the comment will be in sole ownership of its responsibility. According to the central government's IT rules, obscene or offensive statement made against a person, religion, community or nation is a punishable offense, and legal action would be taken against people who indulge in such activities.

Latest News

DEFENCE SCAN:  RAKSHA MANTRI REVIEWS SECURITY SITUATION IN JAMMU & KASHMIR

DEFENCE SCAN: RAKSHA MANTRI REVIEWS SECURITY SITUATION IN JAMMU & KASHMIR

Silence of the Lions

Silence of the Lions

Conversion by Church : Jainism Facing  Existential Threat

Conversion by Church : Jainism Facing Existential Threat

Amravati Beheading: Mastermind Shaikh Irfan sent to police custody till July 7

Amravati Beheading: Mastermind Shaikh Irfan sent to police custody till July 7

All problems of northeast will be solved by 2024, Amit Shah tells BJP meet

All problems of northeast will be solved by 2024, Amit Shah tells BJP meet

Maharashtra: Eknath Shinde, Devendra Fadnavis sworn in as Chief Minister, Deputy CM at Raj Bhawan

PM Modi, Shah’s decision to make me CM opened eyes of many: Eknath Shinde in Maharashtra Assembly

PM Modi’s directive to recruit 10 lakh people in 1.5 years will bring new hope and confidence among youth: Amit Shah

Amit Shah slams Opposition for negative politics, targeting Modi in 2002 Gujarat riots case

All Above 18 Eligible for Vaccination From May 1, Announces Centre

India’s COVID vaccination coverage exceeds 197.95 cr

BJP’s Rahul Narwekar elected as Maharashtra Assembly Speaker

BJP’s Rahul Narwekar elected as Maharashtra Assembly Speaker

Maharashtra Political Crisis: Maharashtra govt reshuffles portfolios of 9 rebel MLAs of Shinde camp

Maharashtra Assembly session begins to elect Speaker

  • Privacy
  • Terms
  • Cookie Policy
  • Refund and Cancellation
  • Delivery and Shipping Policy

© Bharat Prakashan (Delhi) Limited.
Tech-enabled by Ananthapuri Technologies

No Result
View All Result
  • Home
  • Bharat
  • World
  • Editorial
  • Analysis
  • Opinion
  • Defence
  • Culture
  • Sports
  • Business
  • RSS in News
  • Special Report
  • Sci & Tech
  • Entertainment
  • Education
  • Books
  • Interviews
  • Travel
  • Health
  • Obituary
  • Subscribe
  • Advertise
  • Circulation
  • About Us
  • Contact Us
  • Privacy Policy
  • Cookie Policy
  • Terms of Use
  • Refund and Cancellation

© Bharat Prakashan (Delhi) Limited.
Tech-enabled by Ananthapuri Technologies