Thai privately-held companies gathered a total of $529 million in fundraising in the first quarter, surpassing pre-COVID levels, up as much as 137% from the same period of 2019, according to data compiled by DealStreetAsia DATA VANTAGE.
Thailand’s startup industry has emerged as a prominent player in the region, accounting for around 25.5% of equity funding. This puts the country ahead of neighboring Indonesia, which claimed a 20.8% share, and behind Singapore, which dominated the chart with a combined $960 million in funding proceeds, according to DealStreetAsia’s SE Asia Deal Review: Q1 2023.