Global investment downturn? Not so much in Southeast Asia

Last year was a tough one for investors due to the global downturn and was even described as “brutal” for Wall Street. However, in Southeast Asia, things looked somewhat rosier despite the looming recession.

As the graphic from the Southeast Asia Tech Investment – 2022 report by venture capital firm Cento shows, the region still garnered US$10.4 billion in tech funding that year.

See also: How founders and VCs should prepare for a recession

In fact, despite the drop from a peak of US$14.5 billion in 2021, last year was the third-strongest 12-month period for investment in a decade.

As Cento noted, the total capital intake for 2022 was on par with pre-pandemic levels. The region didn’t see “an abnormal deficit of digital investment capital until the very end of 2022 despite the souring capital market’s mood,” the report said.

Of course, this slightly rosier look at 2022 will offer scant consolation to those impacted by the sharp downturn the ecosystem is experiencing this year.