Is party over in Southeast Asia’s post-coronavirus tech scene?

Term sheets were exchanged, vetted and accepted. Series A funding for a Singaporean tech start-up was a done deal, or so it had thought. Then Covid-19 struck. “[The investors] just pulled out and said they couldn’t do it,” said an employee of the start-up. “Basically, all that was left was for them to wire the money over.” Months of discussion came to nought. The investors said discussion would restart when the coronavirus situation had settled. “We were stuck and even considered disbanding…

from South China Morning Post https://www.scmp.com/week-asia/economics/article/3088863/party-over-southeast-asias-post-coronavirus-tech-scene