2022 was a tough year for tech entrepreneurs and venture capitalists alike, as fundraising became difficult amid rising inflation, macroeconomic challenges, and geopolitical uncertainties. With fears of a global recession looming large, 2023 is not going to be a smooth ride either, general partners at some prominent Southeast Asian VC firms told DealStreetAsia.
According to Kuo-Yi Lim, co-founder and managing partner at Monk’s Hill Ventures, “2023 is still going to be a volatile year because a lot of the [challenges] have yet to play out; so next year is likely to see a recession. At least in the first six months, companies will continue to have difficulty raising money.”