From unicorns to brick-and-mortar: VCs in Southeast Asia get cold feet as they switch bets

Amid a major downturn, venture capitalists in Southeast Asia are investing more in offline businesses that can show profitability and strong cash flow.

https://www.cnbc.com/2025/04/25/enture-funds-becoming-pe-funds-venture-capitalists-in-southeast-asia-make-pe-like-deals-into-offline-businesses-.html