"As we watch the geopolitical landscape shift, it's clear that Southeast Asia is becoming a crucial player in the global tech ecosystem. Chinese companies, feeling the pressure of US-China tensions, are turning to this region because it offers familiarity and opportunity. But the responses will vary—Indonesia, with its protectionist policies, will likely push back, while Vietnam and Singapore may embrace this influx of innovation. This is where it gets interesting because it’s not just about welcoming Chinese tech but also about how local economies adapt and grow in response. These next few years, especially 2024 and 2025, will define whether Southeast Asia can truly become a hub or just a fragmented collection of markets." Shiyan Koh, Hustle Fund
"We’re seeing investments in AI, quantum computing, and other advanced fields led by entities like Temasek and SGInnovate. But here’s the challenge: deep tech isn’t an easy sector to grow—it requires not just capital but also expertise, patience, and a global network. Founders here need to think beyond borders, building strong relationships with US investors who can fund these high-risk, high-reward ventures. It’s exciting, but the ecosystem must align its accounting, governance, and scaling mechanisms to truly make this pivot sustainable in the long run." Shiyan Koh, Hustle Fund
"Venture capital in Southeast Asia is at a crossroads. The days of purely opportunistic investments are fading, replaced by more structured approaches like small-cap private equity plays in consumer-driven businesses. But what’s also clear is the divide that’s forming—some funds are focusing on hyper-local, tech-enabled services, while others are taking risks on global tech that can scale beyond the region. This bifurcation is healthy in one sense, but it also means that funds that don’t adapt quickly might not survive the next fundraising cycle. By 2025, I think we’ll see a significant shakeout in the VC space, with only the most focused and strategic funds emerging stronger." Shiyan Koh, Hustle Fund
Shiyan Koh is the Managing Partner at Hustle Fund, a venture capital fund that invests in pre-seed software startups in the U.S., Canada and Southeast Asia.
Prior to that she was VP Business Operations and Corporate Development at NerdWallet, a Fintech Startup that helps users with a range of financial decisions through content, community and tools. Over the course of six years at NerdWallet, she led product teams, ran business operations and corporate development, and helped grow the company from US$1M to US$150M in revenue.
Join Jeremy Au and Shiyan Koh, Managing Partner of Hustle Fund, as they share 5 bold predictions about Southeast Asia's tech ecosystem, including how VCs continue to shift their strategy, silent death of funds and the second-order impact of US-China decoupling on regional markets. Balancing optimism with pragmatism, they also discuss 5 wishes for the region, including overhauling financial accounting operating standards and supporting "failed" founders to bounce back into the talent network.