While the rest of Southeast Asia’s startup ecosystem was chasing consumer-driven "unicorn" narratives and burning cash on a race for user growth at all costs, Indelible Ventures took a completely different path. Since its launch, this early-stage venture capital firm has avoided consumer hype to bet heavily on B2B enterprise software.

Managing Partner Kevin Brockland joins us to explain why he avoids consumer tech and how the B2B landscape is reaching a critical turning point. He also discusses why a growing number of Malaysian founders are choosing to completely bootstrap using AI tools rather than seek dilutive venture funding, why the fundraising environment for VCs is the worst it’s been in a decade, and how early-stage capital is migrating away from overrated markets toward overlooked regions like the Philippines and Japan.