The major boom in series A financing deals over the first quarter of Y2K is truly unprecedented. From Seoul to Singapore, the Asian venture capital market for internet start-ups is white hot and unlikely to cool anytime soon.
In just one week, Asia Online has raised $100 million for future acquisitions and InnoMedia has attracted $115.5 million in capital - staggering sums for early stage companies with very limited track records.
Meanwhile, top-tier private equity players such as Draper Fisher Jurvetson, 3i and Carlyle Group have all launched major technology funds focused exclusively on Asian opportunities. As we have already witnessed in the burgeoning US market, competition for Asian deals will intensify...
