Unlocking opportunity: How investing in women-led businesses can drive Southeast Asia’s next wave of growth

Published on March 8, 2025

Women entrepreneurs in Southeast Asia are building high-growth businesses across key industries, yet many still face challenges in accessing capital. A study by Boston Consulting Group (BCG) and Stellar Women found that women-led startups in Indonesia alone encounter a US$1.7 trillion funding gap, signaling a major opportunity for investors. As investors look toward more inclusive growth opportunities, firms like ACV Capital are doubling down on their commitment to supporting female founders, seeing them as key drivers of innovation and economic growth.

Investors push for more equitable capital allocation

ACV Capital (formerly AC Ventures), a Southeast Asia-focused investment firm, is among those actively working to close the gap. The firm’s 2024 Impact Report, developed in collaboration with Deloitte Indonesia, found that its portfolio has created over 30,000 jobs, with 40% of them led by women. In the past year alone, the firm’s investments have helped generate 2,000 new jobs and expand digital access to 4 million individuals and businesses.

Helen Wong, Managing Partner at ACV Capital, says that increasing investment in female entrepreneurs is not just about equity. It’s a strategic move for long-term economic growth.

“We’re seeing highly capable women entrepreneurs building transformative businesses across industries like fintech, climate tech, and consumer brands, yet funding still lags behind,” Helen said. “The opportunity here is massive. Investors who recognize and act on this will be at the forefront of Southeast Asia’s next wave of innovation and economic expansion.”

Women-led businesses making an impact

Despite barriers to capital, several women-led startups in ACV Capital’s portfolio are scaling rapidly and addressing major market needs:

• • Accacia, founded by Annu Talreja, is using AI to help real estate owners track and reduce carbon emissions, already covering 20 million+ square feet of properties.
  • Astro (co-founded by Marcella Moniaga, Sherlyn Gautama, and Jessica Stephanie Jap) is Indonesia’s leading on-demand platform for groceries and essentials. ACV Capital’s investment in Astro was featured by the Global Private Capital Association (GPCA) in its gender lens investing casebook, highlighting its impact in promoting women-led businesses in Southeast Asia.
  • Rose All Day (RADC) (founded by Cindy Nyoto Gunawan and Tiffany Danielle) has emerged as a top Indonesian beauty brand championing clean beauty, inclusivity, and sustainability.  With a strong and growing community of loyal customers, the brand continues to expand its omnichannel presence and is gearing up for exciting regional growth.
  • Xendit (co-founded by Tessa Wijaya) is transforming digital payments in Southeast Asia, providing businesses with seamless financial infrastructure. Under Tessa’s leadership, Xendit has grown into a key player in the fintech sector, enabling millions of transactions across the region.
  • Supermom (co-founded by Joan Ong, Lynn Yeoh, and Rebecca Koh) is reshaping how brands engage with parents across Southeast Asia. As the region’s largest parenting network, Supermom connects millions of mothers to trusted recommendations, product reviews, and exclusive deals. By leveraging AI-driven insights and a vast community of engaged users, the platform helps brands optimize their marketing strategies while empowering parents with better purchasing decisions.

Shifting the investment landscape

Beyond capital deployment, ACV Capital is working to reshape the broader investment landscape to ensure more women-led businesses receive the support they need to scale. At the Global Private Capital Association (GPCA) Investor Training, the firm shared strategies to increase women’s participation in private capital, emphasizing inclusivity beyond quotas and securing buy-in across investment teams.

ACV Capital also took part in the She Loves Tech Global Summit, celebrating a decade of women-led innovation and recognizing standout female founders in MedTech, SaaS, AI, and sustainability.

Currently, ACV Capital is engaged in IFC’s We Fund Climate peer learning platform, a program under She Wins Climate, launched at COP28. This initiative connects climate-focused VC funds to implement gender-lens investing strategies and supports women-led climate startups through acceleration programs, investor networking, and business development support.

While progress is being made, industry leaders say more needs to be done to ensure capital flows to promising female founders. Wong emphasizes that sustainable change will require a collective effort from investors, policymakers, and ecosystem players.

“Funding women-led businesses isn’t just the right thing to do; it’s the smart thing to do,” Wong said. “We’re committed to backing more female entrepreneurs, but the entire investment ecosystem needs to work together to ensure they have the resources to scale.”

With investor interest in gender-lens investing on the rise, industry observers say the next decade could see a fundamental shift in how capital is allocated. A more inclusive approach to investment could unlock significant untapped economic potential across Southeast Asia, driving innovation, business growth, and long-term financial returns.