(Bloomberg) -- If you need further proof of Asia's vibrant tech sector, look no further than the seasoned IPO bankers who are getting in on the action.
Jasper Reiser, who helped lead BNP Paribas SA's Asia Pacific equity capital markets franchise from his perch in Singapore, is becoming regional head of tech, media and telecom dealmaking. Over at Bank of America Corp., Southeast Asia ECM head Sandeep Uberoi will be helming TMT coverage for the region, people with knowledge of the matter said.
They're leaving the ECM space at a time when fast-growing startups are staying private longer and longer. The volume of Asia Pacific stock offerings fell 18 percent last year, data compiled by Bloomberg show. Meanwhile, announced acquisitions involving technology, media and telecommunications companies rose 12 percent to $366 billion.
When the bankers move into tech, they'll find plenty of firms that need their help raising cash. Go-Jek, Indonesia's most valuable startup, is choosing an adviser to work on an ongoing financing round of up to $3 billion, Bloomberg News has reported. Singapore rival Grab is also in continuous fundraising mode. 2018 was already a record year for venture capital transactions globally, according to data provider Preqin.
--With assistance from Yoolim Lee.
To contact the reporter on this story: Joyce Koh in Singapore at jkoh38@bloomberg.net
To contact the editors responsible for this story: Ben Scent at bscent@bloomberg.net, Timothy Sifert
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