Homegrown tech giants are slated to go public one after another, with several putting up impressive market debuts. A dealmaking boom, fueled by mergers and acquisitions, is well underway. Even global investors are looking to our region for opportunities.

We’re at a point where local venture capitalists (VCs) are no longer selling pie-in-the-sky stories of theoretical valuations and potential liquidity. The returns have been demonstrated.

The moment comes just as Indonesian e-commerce platform Bukalapak went public on the Indonesia Stock Exchange (IDX: BUKA.JK). The move gave Bukalapak the moniker of Indonesia’s first listed tech unicorn and saw its share prices jumping by 25 percent within minutes of opening. The firm raised US$1.5 billion in its initial public offering (IPO) — the country’s largest IPO to date — which valued the company at a hefty $6 billion.

This success was met with celebration, even though Bukalapak is not actually the largest e-commerce firm in Indonesia. In fact, it sits at number three, behind local competitor Tokopedia and Singapore-based Sea Group’s Shopee.

Bukalapak’s strong performance and massive returns for investors will soon be replicated many times over in Indonesia, Singapore, and the rest of Southeast Asia.

A torrent of big IPOs is poised to happen, and institutional investors have to be ready. After years of establishing large customer bases and refining their products and services, the region’s tech startups are now generating massive revenues and strong cash balance sheets.

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