In 2014, venture capitalist Aileen Lee coined the term “unicorn” to describe companies valued at more than US$1 billion. Like the mythical creatures the term refers to, unicorn companies are relatively rare.
That said, Asia has given rise to numerous unicorn companies since the term emerged. As of 2021, there are more than 390 unicorns in the Asia-Pacific region, with about two-thirds of them hailing from China.
The 2022 Gen.T List includes 16 honourees who run unicorn companies—the largest number to feature on the list to-date.
