In the world of venture capital, one metric separates paper promises from real success: DPI, or Distributions to Paid-In Capital. It's the actual cash returned to investors, and in a landscape littered with inflated valuations, it matters more than ever.

Kevin Brockland, Managing Partner at Indelible Ventures, joins us to demystify this crucial metric. He explains why a lack of DPI has created a liquidity crisis in Southeast Asia, the need for a strategic "reset" in the regional ecosystem, and his candid advice for fund managers and founders navigating this tough new reality.

We discuss:

• What DPI is and why it's the most important metric in venture capital.

• The liquidity crisis facing the Southeast Asian venture ecosystem.

• Why the region needs a "reset" away from chasing unicorns toward viable M&A.

• The challenges for both LPs and GPs in a low-DPI environment.

• Why startups must be "default alive" and focus on revenue as the best funding.

For VCs, LPs, and startup founders, this is an essential and candid deep dive into the real economics of the venture capital industry in Southeast Asia.