East Ventures launches US$30M fund for SEA startups focussing on Indonesia

Sainul Abudheen
East Ventures launches US$30M fund for SEA startups focussing on Indonesia

East Ventures is an early-stage venture fund that has invested in 116 startups in  Southeast Asia, including Traveloka, Tokopedia, and Ruangguru

East Ventures, one of the most active VC firms in Southeast Asia, today announced a new US$30 million fund for startups in the seed to Series A stage with a focus on the Indonesian market.

This is the sixth fund managed by East Ventures, which was founded in 2010 by partners Willson Cuaca, Batara Eto, and Taiga Matsuyama.

With a presence in Indonesia, Singapore, and Japan, East Ventures is an early-stage venture fund that has invested in startups across various Southeast Asian startups. Since its inception, it has invested in 116 companies, including Traveloka, Tokopedia, Kudo (now Grab), Loket (now Gojek), Shopback, Orami, Valuklik, MokaPOS, Ruangguru, IDNTimes, EV Hive, Julo Finance, Cicil, Omise, Cermati, 99.co, Sociolla and Ralali.

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This year, East Ventures’ portfolio has seen significant deals, including a US$1.1 billion by Tokopedia led by Alibaba, US$500 million Expedia-led investment in Traveloka, acquisition of Kudo by Grab, acquisition of Loket by Gojek, and one of the largest initial coin offerings in Southeast Asia by Omise.

According to a recent A.T.Kearney report, investments in Indonesia are soaring due to a strong macroeconomic outlook and favourable demographics. Deals in Indonesia from January to August 2017 alone reached US$3 billion, more than 60x since 2012. The study also shared that 244 companies completed 381 deals in Indonesia between 2012 to 2017 year-to-date.

East Ventures is amongst the most active technology investors in the region, contributing to 192 deals or 50 per cent of Indonesia’s total deals.

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