30 Sep Southeast Asia – Booming Tech Hub in Asia
Here’s a region you need to watch as a booming Tech hub with its record high numbers in the first half of 2021.
Despite, or perhaps because, of the pandemic experienced in 2020, Southeast Asia has had a strong and record-breaking performance in H1 2021.
According to Lexology, an online business resource platform, a total of 101.6 Bil USD in value of deals were made in just the first 6 months of 2021. A total of 209 deals were made, an increase of 32 deals compared to H1 2020.
This is a newest high, a 6-month total that has surpassed all annual totals experienced in SEA on record.
This record is as a result of ‘megadeals’ within the tech sector with 10 deals that were valued beyond 1 Bil USD.
Technology, Telecom and Media was the largest targeted sector in SEA in terms of quantity and value of deals. A total of 45 deals within this space took place amounting to 74.9 Bil USD, that is 17 deals more and a ‘huge leap’ from the 2.1 Bil USD announced in H1 2020.
Fundraising has accelerated with investors looking to capitalize on the changing consumer habits – as such digital services like E-Commerce and FinTech ‘skyrocketed with a steady stream of investments’ in SEA’s tech sector.
Singapore in particular leads the pack with M&A activities reaching a value of 52 Bil USD in H1 2021, higher than all annual records and this trend does not seem to be slowing with firms already sharing plans to go public and merge in Q3 2021.
It is no hidden fact that SEA’s digital economy is flourishing. Statistics for the region shows it is home to 400 million internet users and a digital economy projected to reach 300 Bil USD by 2025.
With such demand and heightened investor appetite ascertains the vast and untapped potential in this region.
With a strong network on senior leaders across a spectrum of functions in the Tech sector, NAOS International has been actively working with funds and firms in hiring their leadership teams to take them to the next level. Reach out for an open discussion on your hiring activities and advise.
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