Singapore-based startups captured 91% of Southeast Asia's venture funding in the first nine months of 2026, as the region's startup funding tripled to USD $10.7 billion, according to data from Founders Forum Group and Dealroom.
TL;DR
- Singapore startups captured 91% of Southeast Asia's venture funding in 2026, totaling $10.7 billion.
- AI companies made up 34% of Asian rounds worth $1 million or more, up from 12% in 2023.
- Singapore's role as a conduit for capital from both Western and Asian investors was highlighted by DayOne's $4.5 billion round.
What happened
Singapore-based startups captured 91% of Southeast Asia's venture funding in the first nine months of 2026, as the region's startup funding tripled to USD $10.7 billion, according to data from Founders Forum Group and Dealroom. This figure is up from 62% in 2019, highlighting Singapore's growing dominance in the regional startup ecosystem.
Across Asia, startups raised USD $129.6 billion between January and September, up from USD $60.0 billion a year earlier and already 57% above the full-year 2025 total. China accounted for most of that increase, with Chinese startups raising USD $88.5 billion.
Large transactions played a central role in the regional totals. Rounds of USD $250 million or more reached USD $66.5 billion, compared with USD $9.5 billion in the same period a year earlier. Singapore data centre operator DayOne raised USD $4.5 billion, the biggest round in Southeast Asia this year. The deal also highlighted Singapore's role as a conduit for capital from both Western and Asian investors, with US investor Coatue participating alongside Hillhouse.
Why it matters
The data reflects a longer-term shift in the geography of Southeast Asian venture funding, with Singapore startups taking 62% of regional funding in 2019 and now climbing to 91%. This shift is driven by companies moving their base to Singapore to gain access to investors and regional markets.
AI companies made up 34% of Asian rounds worth USD $1 million or more, up from 12% in 2023, and took 62% of the dollars raised. This trend is driven by Chinese AI companies, with fundraising led by groups including DeepSeek, MoonshotAI, Kling AI, and StepFun.
The consistent investor participation in Singapore has reinforced its role in regional venture markets. US investors have maintained a relatively stable presence in Singapore venture rounds, representing between 20% and 30% of investors in those deals each year since 2020. This contrasts with China, where US participation has fallen sharply.
Key facts
- Singapore-based startups captured 91% of Southeast Asia's venture funding in the first nine months of 2026.
- Southeast Asian startup funding tripled to USD $10.7 billion in 2026.
- Across Asia, startups raised USD $129.6 billion between January and September, up from USD $60.0 billion a year earlier.
- China accounted for most of that increase, with Chinese startups raising USD $88.5 billion.
- Rounds of USD $250 million or more reached USD $66.5 billion, compared with USD $9.5 billion in the same period a year earlier.
- Singapore data centre operator DayOne raised USD $4.5 billion, the biggest round in Southeast Asia this year.
- AI companies made up 34% of Asian rounds worth USD $1 million or more, up from 12% in 2023.
- Asia's share of global venture funding held at 18%, while its share of total deal count rose from 27% in 2019 to 32%.
Context
Singapore's dominance in the regional startup ecosystem is driven by its role as a conduit for capital from both Western and Asian investors. The city-state's consistent investor participation has made it an innovation hub for AI and deep tech founders, and a bridge for companies moving between Asia and Europe.
The shift in the geography of Southeast Asian venture funding is also driven by geopolitical considerations shaping capital flows. Founder decisions on location and investor mix are becoming more closely linked, as capital has become far more deliberate about where it goes.
The data also pointed to Singapore's role as a conduit for outbound capital. Singapore investors GIC and Temasek backed Supabase and Mobvista respectively, underlining the city-state's function as a base not only for incoming capital but also for investment in overseas technology companies.
