Southeast Asian tech giant Sea disbands investment arm amid global uncertainty

Southeast Asian ecommerce and gaming giant Sea Ltd is winding down its investment arm, two people with knowledge of the matter said, amid a cooling investment environment globally as macroeconomic and market uncertainty weigh on valuations.

The arm, Sea Capital, stopped new equity investing in 2022 with leadership moving on in May, while Sea itself is placing less priority on investing given market conditions, one of the people said.

Sea – better known as owner of ecommerce platform Shopee and online gaming developer Garena – declined to comment. The people with knowledge of the matter declined to be identified as they were not authorised to speak to the media.