East Ventures’s new multi-stage fund hits final close at US$550M

Indonesia-focused VC agency East Ventures introduced in the present day it has raised a complete of US$550 million within the ultimate shut of its newest fund.

The agency will allocate US$150 million for early-stage offers and US$400 million for growth-stage offers, in keeping with Willson Cuaca, Co-Founder and Managing Accomplice of East Ventures.

“We’ve got been remodeling ourselves from a seed-stage investor right into a multi-stage investor and turning into an environment friendly and sturdy platform to help entrepreneurship,” he added.

“Digitalisation in Indonesia has develop into extra sturdy, with a 73.7 per cent web penetration charge in 2021 and equal digital competitiveness throughout the areas proven by the elevated EV-DCI rating from 2020 to 2022. We additionally noticed the IPOs of a few of Indonesia’s largest tech corporations in latest occasions, a major milestone in paving the way in which for different startups within the nation to observe go well with. We imagine the sturdy initiatives made by the related stakeholders, akin to the federal government, in selling digitalisation by means of G20 Presidency, will additional elevate the tech ecosystem and create even larger funding alternatives in Indonesia. At East Ventures, we’ll proceed to double down our investments in Indonesia,” stated East Ventures Managing Accomplice Roderick Purwana.

Additionally Learn: East Ventures types new US$88M seed fund for startups weathering COVID-19, broadcasts first shut

Based in 2009, Singapore-headquartered East Ventures is a multi-stage investor that has backed over 200 seed- and growth-stage corporations in Southeast Asia. It’s the first investor of unicorns Tokopedia and Traveloka. Different notable corporations within the portfolio embody Ruangguru, SIRCLO, Kudo (acquired by Seize), Loket (acquired by Gojek), Tech in Asia, Xendit, IDN Media, MokaPOS (acquired by Gojek), ShopBack, KoinWorks, Waresix, and Sociolla.

East Ventures claims that it has skilled vital progress, with greater than 200 portfolio corporations graduating from seed to progress levels. The agency, which manages over U$1billion in AUM, has attracted US$6.7 billion in follow-on funding for its portfolio corporations.

The VC agency additionally stated it recorded greater than US$86 billion of annualised GMV in combination by its portfolio. The agency can even incorporate sustainability elements in each follow and utilization of the funds.

East Ventures has launched many strategic initiatives in supporting the general progress and improvement of Indonesia. They embody supporting the digital transformation by means of its annual East Ventures and making certain the sustainable funding and practices by signing the Precept of Accountable Funding (PRI), a UN-supported community of buyers.

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