Southeast Asian startups shouldn't have to go to the U.S. for capital. Here's how to help them raise money closer to home

(Credit: Roslan Rahman—AFP/Getty Images)

In 2022, PropertyGuru, Southeast Asia’s leading property technology company, made its public debut on the New York Stock Exchange through a merger with a SPAC, amid high expectations.

Fast forward to early 2024. The company's shares had lost about 60% of their value at one point, prompting a buyout by private equity firm EQT at a valuation of $1.1 billion—below the $1.6 billion valuation when the startup listed just two years ago.