Heaptalk, Jakarta — Venture Capital firm East Ventures launches its newest Sustainability Report 2024. This report demonstrates the firm’s continuous efforts and progress in integrating ESG frameworks in its operations and across its ecosystem, in generating positive impacts for the betterment of society.
This report is guided by the Global Reporting Initiative (GRI) Standards, Sustainability Accounting Standards Board (SASB) framework, and Task Force for Climate-related Financial Disclosures (TCFD) framework and outlines the firms’ sustainability strategy and achievements within the year’s operational environment, providing a comprehensive overview of the firm intention to sustainability efforts to address ESG issues.
“Sustainability has always been part of East Ventures’ DNA. We prioritize more than just delivering strong financial returns. Our Sustainability Report serves as a testament and critical tool for the realization of our vision to showcase our current efforts towards environmental sustainability, diversity, and community empowerment and chart the path forward for our firm and the entire ecosystem,” Co-Founder and Managing Partner of East Ventures, Willson Cuaca, said.
Several highlights from this year’s report:
- Impacts created through investment: investing in high-quality founders and maintaining a prudent approach that contributes to achieving the sustainable impact goal. With its sector-agnostic investment approach, it results in critical solutions to drive impact across 16 out of 17 SDGs.
- Impacts led by East Ventures: driving initiatives such as the Climate Impact Innovations Challenge, ECOVISEA, the free web-based greenhouse gas calculator, East Ventures South Korea funds, the firm’s involvement in the ASEAN Business Entity Hub, and empowerment of the ecosystem.
- Impacts in the workplace: Fostering a culture that encourages an inclusive and supportive environment for all employees. East Ventures boasts a strong representation of women, including 55% of team members, 56.25% of senior leaders, and 40% of investing partners. Around 25% of its active portfolios consist of female-founded or co-founded businesses.
In the last year, East Ventures increased its Asset Under Management (AUM) by up to 13.33%, attaining USD1.7 billion, and made 29 new investments. Meanwhile, its Annualized Gross Merchandise Value also increased by 17%, reaching USD138 billion, and recorded a 3.5% increase in its follow-on funding worth USD7.5 billion in 2023.
