WOWS Investment Highlights – March 2025: Southeast Asia Powers Up as Funds Flow In

From IPOs to EVs, Southeast Asia steps on the gas in Q1 2025.

If you’ve been waiting for a sign that Southeast Asia (SEA) is heating up in the venture and private equity world—March 2025 was it. Against the backdrop of a solid Q1 recovery in funding volume and deal count across SEA, investors have shown that confidence is back, risk appetite is rising, and capital is finally flowing with more conviction.

Let’s break it down.

SEA’s Investment Landscape in March: A Deal Frenzy

SEA had a banner month with funds raised, deals done, and institutions reloaded. Let’s start with the money:

Singapore Leads the Surge

• Jungle Ventures launched its $600M Fund IV, reaffirming its position as one of the region’s heavyweight VCs.

• Wavemaker Impact closed $3M to co-build climate-tech startups in SEA—a sector gaining momentum.

• Ikhlas Capital invested $16.6M into Malaysia’s Alliance Bank, showcasing confidence in traditional finance evolution.

• Meet Capital launched a $10M maiden fund to support early-stage founders.

Malaysia Is on the Move

• Altara Ventures closed $130M Fund II, focused on SEA and with strong ties to Malaysia.

• Gobi Partners and Sunway Group teamed up for a $50M Malaysia-focused climate tech fund.

• Malaysian fintech startup Versa raised $6.8M Series A, while secondhand furniture startup earned support from 1337 Ventures.

• Major news: Malaysia’s state-backed funds have publicly declared intentions to ramp up local startup investments.

Vietnam’s Strategic Ascent

• Gaw Capital acquired majority control in FV Hospital, a landmark healthcare investment.

• Selex Motors secured $10M Series A funding.

• Sky Mavis, the studio behind Axie Infinity, attracted backing from VinaCapital Ventures.

• Vietnam is clearly shaping into SEA’s healthtech, gaming, and EV trifecta.

Philippines Gathers Steam

• GCash and Maynilad’s successful IPOs could be the dam-breaker for more listings in Manila.

• Lista, a fintech tool for MSMEs, closed a $5.3M round with participation from 500 Global.

• Early-stage action: Shoppable, a B2B e-commerce platform, attracted Foxmont Capital Partners and Seedstars in a pre-seed raise.

• Higala, a fintech, also raised $2.8M to expand its reach.

Indonesia: Steady and Strategic

• East Ventures backed logistics platform McEasy, continuing its disciplined support of digital infrastructure.

• Qoala, an insurtech with regional presence, raised $4M with Krungsri Finnovate from Thailand joining in.

Middle East Mobilizes: Capital With a Global Ambition

The Gulf is no longer just oil and sovereign wealth—it’s venture-forward, and March drove that point home:

• Abu Dhabi’s ADQ committed to a $620M regional venture fund, expanding the Middle East’s cross-border ambition.

• Shorooq Partners launched the second Bedaya Fund, doubling down on early-stage bets.

• Saudi’s STV led a $14M round into Pakistan fintech Neem, while

• Global Ventures (Dubai) backed Zywa, a youth-focused fintech in the UAE.

This regional diversification shows the Gulf’s evolving strategy: build locally, back regionally, invest globally.

Climate Tech, Fintech, and EVs Take the Spotlight

From electric motorcycles in Vietnam to climate-focused funds in Malaysia, March revealed what investors want now:

• Climate Tech: Four new funds and startups aimed at emissions reduction and sustainable infrastructure.

• Fintech: Still hot. From Malaysia’s Versa to Philippine players like Lista and Higala, the region’s appetite for financial innovation remains insatiable.

• EV/Greentech: Oyika raised capital from Thailand’s Banpu NEXT, while Selex Motors funding validates investor confidence in SEA’s clean mobility future.

Q1 2025 Is Looking Up

Deal count in SEA surged 65% QoQ, while overall Q1 2025 deal value jumped 40%. That’s not just a rebound—it’s a momentum shift.

And we’re seeing more first-time fund launches, local LP involvement (especially in Malaysia and Vietnam), and IPOs in traditionally quieter markets like the Philippines.

WOWS Insights

At WOWS Global, we see a clear inflection point for SEA's venture landscape:

• Regional integration is becoming real. Investors are cross-pollinating from Singapore to Manila to Jakarta.

• More exits = more capital recycling. IPOs and acquisitions (like Gaw Capital's in Vietnam) mean founders and funds are ready to re-invest.

• Global capital trusts the region again, but it’s the local and regional funds that are driving most of the meaningful activity—smart money with deep roots.
  
  

For founders: now is a great time to build and raise, especially in fintech, proptech, climate, and consumer enablement.

For investors: this is a golden window to grab early access to the next SEA breakout stories.

Want more insights? Let’s connect and shape the future of SEA and Middle Eastern innovation together.