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Southeast Asian tech giant Sea disbands investment arm

Business & Finance

Reuters exclusively reported that Southeast Asian e-commerce and gaming giant Sea Ltd (SE.N) is winding down its investment arm amid a cooling investment environment globally as macroeconomic and market uncertainty weigh on valuations.

Market Impact

Sea’s decision to close the two-year-old arm comes as technology investors – both funds and firms – have held back on investing amid higher interest rates and while economies struggle for growth as they recover from the COVID-19 pandemic. Globally in the tech sector, mergers and acquisitions backed by private equity have totalled $78 billion so far this year, down 35% from the same period last year, Refinitiv data showed. Sea’s share price has risen 10% so far this year, compared with a decline of about 2% in the benchmark NYSE composite index (.NYA).

Article Tags

Topics of Interest: Business & Finance

Type: Reuters Best

Sectors: Business & Finance

Regions: Asia

Win Types: Exclusivity

Story Types: Exclusive / Scoop

Media Types: Text

Customer Impact: Important Regional Story

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