Southeast Asian startups raised US$7.25 billion in H1 2026, their strongest first half since H1 2022, even as deal count fell to 217, the lowest level for the period since 2018, according to a report from Kickstart Ventures, a venture capital firm based in the Philippines.

Kickstart Ventures said the 20 largest funding rounds accounted for 89% of total funding, leaving about US$800 million for all other deals.

Companies headquartered in Singapore raised US$6.7 billion, or 92% of the regional total.

The report also said early-stage deal count fell to 195, while the median series A round declined to US$8 million from US$11.6 million.

Kickstart Ventures said geopolitical uncertainty is pushing global capital into Southeast Asia through Singapore and into strategic infrastructure, while the decline in deal volume suggests the region’s recovery remains uneven.

🔗 Source: Kickstart Ventures