Despite expectations of a rebound in venture funding in Asia as the global tech industry bounces back from the impact of the global macroeconomic crisis, the anticipation of such a resurgence is yet to materialize.

In fact, the total venture volume in the region reached its lowest level in at least the past three years, standing at $15.2 billion, according to Crunchbase data. This is a 33% decline from $22.4 billion in the previous quarter and a staggering 57% from $35.5 billion in the first quarter of last year.

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