Exiting a startup in Southeast Asia isn’t easy. IPOs are rare, valuations are tricky, and local buyers often fall short. So how do VCs and founders maximise their exits?

We dive into this with Kairous Capital, a venture capital and private equity firm managing $200 million AUM, with a cross-border focus between Southeast Asia and China. Managing Partner Joseph Lee and Partner Adrian Hia share how they’ve backed 21+ companies, secured 4.5 exits, and developed a scaling and exit strategy for startups.

We explore:

• Why 80% of their exits come from trade sales, not IPOs

• The “time machine” arbitrage between China & Southeast Asia

• How AI, digitalization, and SME transformation funds fit into their investment thesis

• The challenges of fundraising in today’s VC climate, including how LPs are picking firms to back