Significant events during the quarter
As of 31st of
The divestment of the
As another step to further focus the Company's core business on its investment activities,
The current portfolio of
The most important company in the portfolio in terms of NAV as of 31st of
Positive outlook for the SEA region despite global turmoil
2022 has been a year of contrasts. Many parts of the economy and the region are rebounding forcefully as a result of the post-pandemic reopening as well as the increased digital adaptation that followed. On the other hand, worrying global macro trends are pulling down sentiment and growth, primarily in the EU and US.
In the midst of the global turmoil, Southeast Asia’s (SEA) economy remains relatively insulated from the volatility of the rest of the world, with a robust GDP growth (+5.2% 2022 forecast) and a strong digital economy (est. ca.
Tech investments in the SEA region continued to grow in deal value during H1 2022 while the number of deals remained constant. Early stage investments kept growing while later stage investments marked a downtrend driven by gloomy global stock and IPO markets.
Investors are more cautious in the short term because of global market uncertainties. The easy-money era has been replaced by the search for profitable business models and more reasonable valuations. However, the dry powder of the funds in the region remains significant (~15 bnUSD) and will continue to drive the investments throughout the downturn. In general, investors remain confident in the long term prospects of SEA and the attractiveness of its investment opportunities.
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