Southeast Asia’s tech sector enters golden age with accelerated digital adoption

Fireside chat with Jenny Lee, Managing Partner, GGV Capital
SE Asia is fast catching up with other tech startup ecosystems in the region thanks to the rapid digitalisation boom. In 2021, at least 834 SE Asian startups cumulatively garnered $23.18 billion in equity financing. The year also saw the minting of 25 unicorns in SE Asia, with 11 of them from the fintech space including Ajaib, Xendit, Kredivo, Nium, among others, data from DealStreetAsia’s SE Asia Deal Review: Q4 2021 report shows. Indonesia’s J&T Express and GoTo Group ruled the pecking order of the top 20 equity fundraisers in value terms. 

SE Asia is also grabbing investor interest amid increased regulatory scrutiny on the technology sector in China. GGV Capital’s managing partner Jenny Lee will share her unique perspectives of how the SE Asia growth story is unfolding in this context. Jenny Lee launched GGV’s first office in China in 2005 and re-opened GGV’s Singapore office in 2019. She also leads the firm’s USD fundraising activities. Singapore state investor Temasek recently appointed Jenny Lee to its board of directors.

GGV Capital, a seed-to-growth stage investor, has backed over 400 companies globally including Affirm, Airbnb, Alibaba, Slack, Square, Xpeng, to name a few. With $9.2 billion under its management, GGV Capital has investments in the US, Canada, China, SE Asia, India, Latin America, and Israel. In Indonesia, it has backed insurtech startup Fuse, edtech platform Ruangguru and digital signature provider Privy.