For investors rattled by Beijing’s tightened regulatory control over its tech sector, Southeast Asia is emerging as a top alternative destination.
“I think there are many Chinese founders — especially in e-commerce, but really across all sectors — that are now looking at globalising [their businesses] with much more seriousness,” said Rui Ma, founder of Tech Buzz China during a panel discussion titled ‘How China’s crackdown on tech will play out in the long-term’ at the Asia PE-VC Summit 2021 in September this year.
Ma, who has 16 years of experience in investing, was joined in the panel by the seasoned investor Helen Wong; and James Tan, managing partner at Quest Ventures, a top venture capital fund in Asia.
“There is a feeling of uncertainty and insecurity among entrepreneurs in China’s Internet field,” said Wong. “The period of regulatory upheavals is positive for venture capital companies who can help them expand into the overseas market,” she added.
Many of the Chinese individuals who are moving to SE Asia will “become a natural bridge to raising Chinese capital,” said Tan. “If you don’t want to deal with the regulatory pressure in China, you can come to SE Asia… there are regulations [across the region], but at least they are not interfering in the [tech] space.”
Watch the full video of the panel discussion here: