Mapping Chinese tech giants’ investments into Southeast Asia

Sign up for the Daily Newsletter, sent exclusively to our premium subscribers. We break down the big and messy topics of Asia’s tech and startup community. Get the newsletter in your inbox everyday with a premium subscription.

Hello reader,

Here at Tech in Asia, we have a lot of different kinds of content. We analyze financial statements, expose the truth about people or circumstances, profile exciting companies, and uncover trends and patterns in the tech ecosystem.

I think everything we do is interesting, but the last one is especially compelling to me. There’s something to be said about being able to look at individual events – a fundraising round here, a merger there, a strategic investment last week – and putting it together to paint a picture of something much larger.

For example, in today’s premium story, my colleague Peter puts together many different events in our ecosystem to track the Chinese tech giants that are putting money into Southeast Asian startups. This gives us a sense of how our two tech scenes are connected.

Today we look at:

• The investments of Chinese tech giants into Southeast Asia
• The AI startup of a billionaire heir that’s just raised funds
• Other newsy highlights such as InMobi’s IPO plans and Huawei’s new partnership to boost AI in heavy industries

Premium summary

A tale of China and Southeast Asia

Image credit: Timmy Loen

In recent years, China’s tech scene has had its fair share of ups and downs – they’ve had to deal with increased regulatory pressure and a trade war with the US. But one thing hasn’t changed: The country’s tech firms are still interested in Southeast Asia.

• Down but not out: Despite Southeast Asia remaining a key area of interest for Chinese tech firms, they have decreased their investment in the region since 2021. This slump – due to factors like the tech winter and regulatory clampdowns in China – is reflected in a significant drop in both deal volume and investment value.
• Big names: : While overall investment has fallen, Alibaba and Tencent – two of the largest Chinese investors in Southeast Asia – continue to make substantial investments in companies like Lazada, J&T Express, and GoTo Group. TikTok is also a notable mover, having merged with Indonesia’s Tokopedia and promising to invest US$1.8 billion over time in the merged entity in exchange for a 75% stake.
• More than money: Companies like Shein and TikTok have moved their headquarters to Southeast Asia, which shows a shift in focus toward the region. Additionally, Chinese EV manufacturers and solar companies are increasingly using Southeast Asia as a production hub and market, seeking to circumvent trade barriers imposed by the US and EU.

Read more: Charting the Chinese tech giants investing in Southeast Asia

Startup spotlight

A for Amity

Last chance to join one of the biggest gatherings of Southeast Asia’s tech enthusiasts

Quick bytes