Gavin Teo | Source | General Partner at Altara Ventures

The ASEAN exit market in 2020 was characterized by cross-border M&A (Chinese and US firms picking up regional assets), as well as regional acquihires and tuck-ins. This stands in contrast to the US which saw an IPO boom in both tech and biotech. It also stands in contrast to China and Hong Kong which also had a large number of listings, especially in the back half of the year.