Disputes between co-founders in Southeast Asia are more frequent (and more game-changing) than many recognise. A misalignment at the top can derail a venture faster than shifting market forces.
Nadiem Makarim, co-founder of Gojek, stepped away from day-to-day operations in 2019 to join Indonesia’s cabinet, but not before navigating early team disruptions. Gojek’s leadership pipeline was fluid, with multiple co-founders departing as visions diverged. While the company soared, the churn stunned the ecosystem and slowed early momentum.
The perils of casual commitment
In Ho Chi Minh City, a promising retail-tech startup faltered when its technical co-founder quietly accepted a full-time corporate position six months into operations, leaving the team shorthanded just as investors were closing in. The lost momentum spooked backers and nearly sank the venture.
Similarly, Grab, Southeast Asia’s ride-hailing behemoth, began with two Harvard classmates: Anthony Tan and Hooi Ling Tan. Industry whispers suggest a third co-founder was phased out before Grab gained traction, likely due to cultural and strategic misalignments. Though rarely mentioned publicly, this episode speaks volumes about why early alignment matters.
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Recognising red flags early
Startups amplify underlying issues. A tentative partner can sustain until traction arrives, then crack under the pressure of growth and expectations. Gojek’s early leadership churn, for instance, introduced delays in product focus at a critical time.
Southeast Asia’s unique pressures
Structural and cultural contexts in Southeast Asia intensify founder conflicts. Corporate frameworks are still maturing, and governance mechanisms like shareholder agreements are often seen as optional, especially in earlier markets like Thailand.
Cultural norms further complicate matters. As one Malaysian founder candidly remarked, “We don’t want to lose face by saying no early. But the bill always comes due.” These reticences suppress essential early conversations, leaving relationships brittle once stress arrives.
When founders depart but don’t derail
A departing co-founder need not kill a company. Carousell, the classifieds unicorn from Singapore, leaned on rapid formalisation—vesting schedules, clear roles, investor oversight—to reset and thrive despite early tensions.
PatSnap, an IP-tech unicorn, handled leadership changes by moving a co-founder into a board role, enabling continuity and preserving relationships.
By contrast, a Singapore venture launched in 2022 as a DeFi-inspired fundraising platform became a cautionary tale. It promised to democratise capital through blockchain deal flows, but leadership rifts, strategic mismanagement and serious lapses in oversight stalled progress. By mid-2025 it was gazetted for striking off, leaving staff in limbo and investors disillusioned. As one regional backer put it: “The market doesn’t forgive chaos at the top, especially when disruption turns into disappointment.”
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Launch solo to scale clean
Some founders are now choosing to launch alone first. A Vietnamese edutech entrepreneur reflected: “It’s easier to hire leaders than to unwind a broken marriage.” She built traction solo and only brought on a COO after validating her model, a strategy rooted in caution but buoyed by clarity.
Investors recognise the stakes
Investors are starting to demand more from founders. Conflict-resolution workshops and mediation clauses are showing up in term sheets. The ecosystem may be maturing, but founders must own the process. As a Thai startup mentor put it: “Your co-founders aren’t just colleagues; they are your company. Choosing the wrong one can be more dangerous than choosing the wrong market.”
Reality check
A founder’s exit doesn’t spell disaster: many companies survive and thrive after such transitions. But letting a misaligned founder linger can poison culture, fracture trust, and derail progress.
Southeast Asia’s opportunities are vast, from Singapore’s fintech boom to Vietnam’s rising e-commerce market. Yet these markets demand one truth: founding teams must be grounded in unshakeable trust. Strategy can adapt. Markets evolve. But people—your co-founders—must be the constant you can count on.
Because in the end, people are the company.
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Disputes between co-founders in Southeast Asia are more frequent (and more game-changing) than many recognise. A misalignment at the top can derail a venture faster than shifting market forces. Nadiem Makarim, co-founder of Gojek, stepped away from day-to-day operations in 2019 to join Indonesia’s cabinet, but not before navigating early team disruptions. Gojek’s leadership pipeline
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