East Ventures, a pioneering and leading Indonesia-focused venture capital firm, has raised a total of US$ 550 million in the final close of its latest funds.
“We are very bullish about Indonesia yet mindful of the global market condition. We have built a strong return track record for more than a decade and as the ecosystem flywheel effect kicks in. East Ventures is well-positioned to ride on it. We have been transforming ourselves from a seed-stage investor into a multi-stage investor and into becoming an efficient and robust platform to support entrepreneurship. We will allocate US$ 150 million for early-stage deals and US$ 400 million for growth-stage deals,” said Willson Cuaca, Co-Founder and Managing Partner of East Ventures.
East Ventures has experienced significant growth in its portfolio, with more than 200+ portfolios from seed to growth stages. The firm is managing over U$1 billion AUM and attracted US$ 6.7 billion in follow-on funding for the portfolio companies. East Ventures recorded more than US$ 86 billion of annualized GMV in aggregate by its portfolio. The firm will also ensure the incorporation of sustainability aspects in every practice and usage of the funds. The first East Ventures – Sustainability Report 2022 is available here.
“As Indonesia navigates and comes to terms with the post-pandemic era, rising digital adoption has pushed for advances in many sectors in the ecosystem. During this time, thanks to the continuous support from all relevant stakeholders, Indonesia is among the fastest-growing digital economies in Southeast Asia. Digitalization in Indonesia has become more robust, with 73.7% of internet penetration rate in 2021 and more equal digital competitiveness across the regions as shown by the increased EV-DCI score from 2020-2022. We also saw the IPOs of some of Indonesia’s largest tech companies in recent timesーa significant milestone in paving the way for other startups in the country to follow suit. We believe the strong initiatives made by the relevant stakeholders, such as the government in promoting digitalization through G20 Presidency, will further elevate the tech ecosystem and create even greater investment opportunities in Indonesia. At East Ventures, we will continue to double down our investments in Indonesia,” said Roderick Purwana, Managing Partner of East Ventures.
Source: East Ventures