The New Era of Southeast Asia Tech: AI, Deep Tech, Global Scaling and the Future of Energy of Thailand - EP681

"It took me 70 startups and $12 million deployed to build confidence and taste as an investor to concentrate more. If you want to build a concentrated portfolio, it’s quite hard to do that as a solo GP. One of the great joys in this business is when you decide you want to back someone, you plant a flag and say, 'I believe in you.' Building those relationships out to be very meaningful means being in the boardroom when decisions are made, understanding the company on a granular level, and bringing more context to every interaction with an entrepreneur." - Wing Vasiksiri, General Partner at Analog Ventures

"Companies that are building for local or regional markets are definitely struggling. It's harder to raise capital; there are not as many investors willing to fund this. They have to either turn profitable or look for alternative sources of financing. But one big trend we’re excited about is this shift in the types of companies being built: they are headquartered in Singapore but building for a global market—the US, Europe, or Australia. Because businesses are becoming more interconnected than ever, why can’t a global company be built out here now that everything is moving at such a fast speed?" - Wing Vasiksiri, General Partner at Analog Ventures

"Singapore is punching way above its weight class. Immigration to the US has gotten harder, so top talent from Indonesia, Thailand, or Vietnam—and even engineers from India and China who would have tried for the US—are all moving to Singapore. It’s now the new place to go. We are seeing a transition where Singapore is no longer just seeding the initial group of funds, but directly leading rounds for the hottest companies in the world, with the government acting as a live player in the game." - Wing Vasiksiri, General Partner at Analog Ventures

In this episode, Jeremy Au welcomes Wing Vasiksiri to discuss his transition from a solo GP at Wing Ventures to joining Analog Ventures (formerly Forge Ventures) as a Partner. Wing breaks down the evolving venture capital landscape in Southeast Asia, explaining why he moved from a diversified, collaborative strategy to a lead-investor model focused on institutional seed rounds.

The conversation dives deep into the "outside-in" macro shifts affecting the region, including the capital gap in Series A and B funding and the new wave of "global-from-Singapore" startups. They also tackle the brewing energy crisis in Thailand, analyzing its impact on manufacturing, data centers, and the agricultural sector. Wing and Jeremy explore whether Singapore can become the "next Israel" by doubling down on deep tech, semiconductors, and AI, while navigating the challenges of commercializing intellectual property stuck in academic labs.

Watch on YouTube: https://www.youtube.com/watch?v=BDX_p2SyZ7g&list=PLl9u6ECOP8_7scb97PE3whKu4yJVizIOd

Listen on Spotify: https://open.spotify.com/episode/76sUyfC5TgIzhp34bqrYa3