The Impulso Podcast E00: Cento x Momentum Works: On Stranger Tides: Southeast Asia Tech Investment in 2023
May 22, 2023
Dmitry Levit, a Partner at Cento Ventures specializing in Southeast Asia, shares insights on tech investment trends. He discusses 2022 as a pivotal year for the region's ecosystem, clarifying misconceptions about impending collapse. The conversation highlights Thailand's surprising valuation rise and contrasts Southeast Asia’s performance against other regions. Dmitry outlines new investing rules moving towards fundamentals and cautions about the potential of climate tech versus fintech. He predicts strong prospects for B2B SaaS in the evolving landscape.
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Episode notes
Mid‑Year Correction Hid Under Surface Stability
- 2022 looked normal overall but showed a mid-year pullback concentrated in larger rounds.
- Series B valuations were overheated early and then corrected sharply in H2 2022.
Crossover Exits Skewed Series B Valuations
- Global late‑stage and crossover investors first pushed money down into Series B and then withdrew mid‑2022.
- Their exit caused sharp valuation moves in Indonesia and Vietnam specifically.
Bali Reopening Meetup And Early Optimism
- The ecosystem celebrated reopening with a large Bali meetup and metaverse chatter in early 2022.
- That optimism contrasted with later mid‑year valuation shocks.
