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Continent / region

Asia

Continent / region · #4 region by EV

A public taster of the full Asia ecosystem on Dealroom — request a demo for live deal flow, founder pedigrees, AI-talent maps, and the full cap table for every company below.

$8.9T+32%
Combined startup EV
$85.5B
VC invested (last 12mo)
74.2K
Tracked startups
🦄 Unicorns
916
916 live · +52 new in 2025 (incl. 8 new decacorns)
💎 Decacorns
71
$10B+ tier
🐎 Thoroughbreds
663
Top 1% growth · $500M+

Enterprise value · 2015–2025

Asia grew 7.9× since 2015

Combined enterprise value of every tracked startup headquartered in Asia that's still operating today, totalled by founding-year cohort.

0 $2.3T $4.5T $6.8T $9T Asia · $8.9T 2015 2018 2021 2024 2025

Adjacent regions by EV

Startup funnel

Asia's power-law funnel

From the first cheque written to a $10B+ outcome. Each arrow shows what fraction of companies at one stage graduate to the next, tracked by founding cohort.

Pre-Seed
13.7K
Seed
13K
Series A
10.2K
Series B
5,174
Series C
2,714
Unicorn
837
Decacorn
75

* C→Unicorn and Unicorn→Decacorn rates are derived from current counts (no founding-cohort data); the four mid-funnel rates use Dealroom's cohort tracking.

Notable companies

Top private companies in Asia

Up to 20 names per tier from Dealroom's tracked dataset. Decacorns are valued $10B+, unicorns $1B+, thoroughbreds have crossed $100M in revenue.

Decacorns $10B+ valuation 75
WuXi AppTecCelltrionSMICSHEINBinanceVast DataBaiduRedNoteWizZomatoSungrow Power SupplyMoore ThreadsFlipkartMeituanCoupangNetEasePDD HoldingsSea GroupCambricon TechnologiesXiaomi
Unicorns $1B+ valuation 837
ShiftOptasiaRedotPayYidu TechChangingeduKuaidi DachePhylion BatteryHyalRouteAihuishouBitDeerBoss ZhipinPeakDealShareCiDiTorqLashou.comAibeeJollyChicLightwheelRoboSense+817 more
Thoroughbreds+ $100M+ revenue 620
JD.comAlibabaBYDTencentXiaomiPDD HoldingsCATLMeituanCoupangDiDiWiwynnHuaqin Communication TechnologySea GroupNew China Life InsuranceKuaishouRakutenBaiduNetEaseLi AutoKe.com

Ecosystem signals

Beyond the headline — Asia's underlying signals

Dealroom's deeper indicators of ecosystem health: where the capital comes from, how universities feed it, and the most recent year-on-year movement.

Capital autonomy
Share of Asia's VC dollars sourced from domestic investors, by funding stage. Lower bars at scaleup mean more reliance on foreign capital for the biggest rounds.
Domestic capital
Startup
70%
30% foreign
Breakout
60%
40% foreign
Scaleup
52%
48% foreign
Academia
Companies founded by university alumni or spun out of research, captured across all tracked startups in Asia.
University-linked startup formation
1,947
University spinouts
25.3K
Total alumni-founded companies
15.3K
Of which startups (<$15M raised)
7,172
Breakouts ($15M-100M)
2,860
Scaleups ($100M+)
Recent momentum
2024 vs 2025 VC investment by stage in Asia. 2025 figures are year-to-date.
2024 2025
Early ($0-15M)
$17.1B
$15.6B
↓ 9%
Breakout ($15-100M)
$28.9B
$32.9B
↑ 14%
Scaleup ($100M+)
$35.1B
$33.8B
flat

Vs. similarly-sized ecosystems

How Asia stacks up

Peers chosen from other continents / multi-country regions, sized closest to Asia by combined EV. The scatter plots growth × current size — outliers in the upper-right are ecosystems compounding fastest.

Combined enterprise value
$44.1T
$31.5T
Asia
$8.9T
$4.6T
$3.8T
EV growth (5-yr ×) vs current EV
peer median 5.8× 4.0× 8.2× 12.4× $73.6B $1.8T $44.1T EV growth (5yr ×) Combined enterprise value (log) World North America EMEA Asia

Top overview

Top regions — combined view

Top regions globally ranked by combined EV. Asia's row is highlighted.

# Ecosystem Combined EV 5-yr EV growth Unicorns VC invested Tracked startups
1 World $44.1T 5.8× 3,634 $444B 288.9K
2 North America $31.5T 6.8× 2,136 $290B 122.2K
3 Asia $8.9T 4.0× 916 $85.5B 74.2K
4 EMEA $4.6T 4.7× 857 $84.1B 89.8K
5 Europe $3.8T 4.4× 689 $67.9B 75.5K
6 European Union $2.3T 4.4× 410 $37.3B 48.5K
7 Nordics $581B 5.1× 105 $8.2B 8,196
8 South America $502B 11.3× 69 $4.7B 8,638
9 Oceania $368B 10.6× 51 $5.4B 5,662
10 Central Eastern Europe $193B 5.2× 58 $2.3B 7,162
11 MENA $142B 12.4× 33 $5.9B 4,435
12 Africa $73.6B 10.7× 14 $1.7B 4,526

Sector concentration

Where Asia punches above its weight

Sectors in which Asia's share of the global unicorn pool is bigger than its overall share. A 5× over-index means Asia is 5× more represented in that sector than in the global average. Source: top-hub aggregation across the 18 simplified sectors.

🦾 Robotics
1.69×
11 unicorns · 39.3% of global sector
🎓 Edtech
1.47×
13 unicorns · 34.2% of global sector
1.27×
26 unicorns · 29.5% of global sector
🛡️ Cybersecurity
1.21×
26 unicorns · 28.3% of global sector
1.16×
7 unicorns · 26.9% of global sector
🥗 Food
1.07×
14 unicorns · 25.0% of global sector
❤️‍🩹 Health Tech & Medtech
0.76×
25 unicorns · 17.6% of global sector
0.64×
26 unicorns · 14.9% of global sector

Premium analytics

What we don't show on this page (yet)

Sector breakdowns, founder origins, AI-talent leaderboards and live deal flow are gated to logged-in Dealroom users. Book a demo to access the full Asia dataset — or see a sample on the Dealroom app.

Sector breakdown
Where Asia's unicorns concentrate
Fintech
AI / Enterprise SW
Health Tech
Biotech
Cybersecurity
Consumer
Unlock on Dealroom
Founder origins
Where Asia's startup founders come from
By country of origin
Per capita
Top universities
Top alumni-factory companies
Unlock on Dealroom
AI talent
Top employers of AI talent in Asia
Core AI roles
Frontier AI roles
YoY hiring growth
Senior + lead engineers
Unlock on Dealroom
Deal flow
Live deal flow & funding rounds in Asia
New rounds last 30 days
Stage breakdown
Active investors
Round-size trends
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