This month, Surge—the 16-week accelerator programme run by storied venture capital firm Sequoia—welcomes its second cohort of startups. But even with its first batch still visible in its rearview, the initiative is already showing signs of disrupting the venture capital scene in Southeast Asia.
At least two of the Indian participants in the inaugural Surge intake are preparing to raise significant financing rounds, with plenty of reported interest in others. Things on the Southeast Asia front, though, have been more pedestrian. A price-conscious market for investors—by virtue of the few exits that the region has seen—Sequoia’s VC peers are baulking at the large valuations that freshly-minted Surge graduates are coming to the table with.