Singapore seizes 78.1% of SEA venture deal value in 2025

The late-stage rebound concentrated funding in H2.

Singapore accounted for around 61.4% of Southeast Asia’s equity deals by volume and 78.1% of total deal value in 2025, according to data published in Kickstart Ventures’ full-year report.

Companies based in Singapore recorded about $4.2b in equity deal value in 2025, far exceeding other Southeast Asian markets, where individual country totals each remained below $1.5b, according to the report.

Late-stage deal activity recovered more clearly in the second half (H2) of 2025, lifting full-year late-stage deal value, although the rebound was driven by a limited number of large transactions.

By deal count, Indonesia ranked second with 14.3% of regional equity funding volume, followed by Malaysia at 8.7% and Vietnam at 7.8%, highlighting the scale gap between Singapore and other Southeast Asian markets, the data showed.

The concentration was sharper by value, with Vietnam accounting for 6.7% of total equity funding value and Indonesia 6.3%, while Malaysia captured 4.8%, reflecting the dominance of large-ticket transactions in Singapore.

Early-stage activity across Southeast Asia remained uneven during the year, but the concentration of late-stage and high-value rounds reinforced Singapore’s position as the region’s primary base for scale-ready ventures, according to the report.