Southeast Asia’s venture funding reached US$5.4 billion in 2025 across 461 deals, according to the Southeast Asia Startup Funding Report 2025 by Kickstart Ventures and Deal Street Asia.

The total deal count was among the lowest in over six years, with a slight increase in H2 2025 compared to H1, driven by a few large rounds.

Singapore accounted for more than 60% of regional deals, with increased activity in the second half, while other markets such as Vietnam, Malaysia, and the Philippines saw drops.

Fintech remained the most active sector but at historically weak levels, with 111 transactions totaling US$1.3 billion.

Healthtech saw a rebound, with 35 deals and US$393 million in funding, including a notable US$188 million round for Ultragreen.ai.

Late-stage funding increased significantly in H2, with 24 deals compared to 10 in H1, led by large rounds like Princeton Digital Group’s US$1.3 billion raise.

🔗 Source: Kickstart Ventures