For the uninitiated, “unicorn” is a term used in the venture capital industry to refer to a private startup with a valuation of over $1 billion. Sea and Grab are the only two companies from Singapore that have grown from start up to unicorn and now to a listed company. Both companies are currently listed in the US and are keenly watched by many investors locally in Singapore, in Asia and globally as barometers of the performance of Asian tech companies. Both companies are also included in various MSCI indices such as the MSCI Singapore Index. Many investors who want to gain exposure to a tech play that’s Asia ex-China & Japan would look at either Sea and Grab. With both companies recently releasing decent 3Q22 results, we review and consider which is the better SG unicorn company: The case for Sea 1) Strong recent quarter performance Despite tough macroeconomic conditions,