# Venture capital & startup funding scoreboard (ASEAN-10 + Timor-Leste)

Dedicated **venture deal value / count** pack for SEA-11 — Enterprise Singapore / Startup SG ASEAN-6 PitchBook landscapes (2024 primary panel + FY2025 companion series), Destination SEA unicorn stock callouts, and Bain SEA PE regional companion. Companion to `topics/digital_landscape/`, `topics/innovation_rd/`, and `topics/services_ict_exports/`. **Dual story:** **deal value / count ≠ startup density or digital adoption** — never blend with internet users or GII into one “innovation score.”

**As of:** 2026-09-30  
**Coverage:** BRN, KHM, IDN, LAO, MYS, MMR, PHL, SGP, THA, VNM, TLS  
**ASEAN-6 VC coverage:** IDN · MYS · PHL · SGP · THA · VNM  
**Linear:** [MED2-77](https://linear.app/media-os/issue/MED2-77/venture-capital-and-startup-funding-sea-scoreboard-brief-spec)  
**Rule:** No invented numbers. Empty cells stay empty. Do not scrape paywalled PitchBook/CB Insights tables. Prefer free EnterpriseSG PDFs.

## Indicators

| Metric ID | Unit | Source | Vintage / as-of |
|-----------|------|--------|-----------------|
| `vc_deal_value_usd_mn` | USD mn | EnterpriseSG Landscape 2024 (PitchBook) | **2024** ASEAN-6; SGP narrative **4800**; others = chart share × **7200** |
| `vc_deal_count` | count | same | **2024**; SGP narrative **464**; ASEAN-6 total **789** |
| `vc_deal_value_share_pct` / `vc_deal_count_share_pct` | % of ASEAN-6 | same pie charts | **2024** — prefer shares when pie rounds |
| `vc_deal_value_usd_mn_2025` / `vc_deal_count_2025` (+ shares) | USD mn / count / % | EnterpriseSG FY2025 Landscape | **2025** companion — ASEAN-6 **6300** / **717**; SGP **4600** / **472** |
| `unicorn_count` | count | Destination SEA 2024 (FFG/EDB) | SEA stock **55**; SGP **31**; MYS **1** (Carsome); others GAP |
| `pe_deal_value_usd_bn` | USD bn | Bain SEA PE 2025 press | SEA PE **16** in **2024** (+60% YoY) — PE ≠ VC companion |

## Panel rules

| Panel | Metrics | Do not |
|-------|---------|--------|
| **(1) 2024 deal value** | `vc_deal_value_usd_mn` (+ shares) ASEAN-6 | Invent BRN/KHM/LAO/MMR/TLS; splice FY2025 US$9.7B onto Landscape US$7.2B |
| **(2) 2024 deal count** | `vc_deal_count` (+ shares) | Treat count rank as “ecosystem quality” |
| **(3) Dual story** | Value share vs volume share | Blend with GII / internet users / digital GMV |
| **(4) 2025 companion** | `*_2025` FY2025 series | Overwrite 2024 Landscape cells |
| **(5 optional)** | Unicorn stock · Bain PE US$16B | Rank unicorns against annual deal-flow |

## Files

| File | Role |
|------|------|
| `scoreboard.csv` | Long-format — **canonical** |
| `scoreboard_wide.csv` | Wide pivot with per-metric years |
| `timeseries.csv` | FY2025 ASEAN-6 panel 2022–2025 (+ Landscape 2024 parallel points) |
| `gaps.md` | Honest empties + methodology badges |
| `provenance.json` | Freeze metadata |
| `_raw/` | EnterpriseSG PDFs + Destination SEA PDF + chart page PNGs |
| `../../PUBLISHABLE_Venture_Capital_SEA.md` | Writer brief |
| `../../SPEC_Venture_Capital_SEA.md` | Designer brief |

## Reading notes

- **Singapore** anchors ASEAN-6: Landscape 2024 **67%** of deal value / **~59%** of deal volume; FY2025 **72.5%** / **65.8%** in 2025.
- **Philippines** is the dual-story highlight in 2024 Landscape: **18%** of value vs **5%** of volume (mega-deal concentration).
- **ASEAN-6 totals fell** on the FY2025 series from **US$16.5B / 1,754 deals (2022)** to **US$6.3B / 717 (2025)** — four-year low.
- **Methodology badge:** Landscape 2024 PitchBook vintage (**US$7.2B / 789**) ≠ FY2025 multi-source 2024 point (**US$9.7B / 1,086**). Keep parallel; never average.
- **CLMV+BRN+TLS** (except Vietnam in ASEAN-6): country VC breakouts **GAP**.
- **Site mirror:** skip if `/projects/asean-in-data/` absent.