Heaptalk, Jakarta — East Ventures, a prominent Indonesia-focused venture capital firm, announced to raise USD550 million for its multi-stage funds. This VC company will pour out its latest capital to invest in Indonesia and Southeast Asia startups.
Co-Founder and Managing Partner of East Ventures, Willson Cuaca, shared that he has strong optimism towards Indonesia-based startup potential but keeps observing the global market situation. The parties claimed to have built a track record with a powerful return for more than a decade.
Willson affirmed that the flywheel effect from the ecosystem had been embarked. Thus, East Venture is in a lucrative position to seize the moment.
“East Ventures have transformed its identity from a seed-stage investor into a multi-stage investor to become an efficient and robust platform to help entrepreneurship. We aim to manage our capital worth US$150 million for a seed round and growth-stage funds worth US$400 million,” said Wilson.
This venture capital firm has significantly improved its portfolios, with more than 200 investments scattered from seed to growth funding rounds. The company can handle over US$1 billion Asset Under Management (AUM) and record the growth-stage funding for the portfolio’s company worth US$6,7 billion. East Ventures will also convince sustainable aspect integrations in every enterprise practice and capital allocation record through Sustainability Report 2022.
Managing Partner of East Ventures, Roderick Purwana, claimed that Indonesia is among the fastest-growing digital economy in Southeast Asia. The digitalization across the archipelago has become more robust, with a 73,7% internet penetration rate in 2021 and the digital competitiveness that is even more equal over the regions, as shown by the ED-DCI enhancement score from 2020 to 2022.
“We also saw the IPOs of numerous Indonesia’s technology companies as a significant milestone in unlocking opportunities for other Indonesia’s startups to follow suit. We believe that a decisive initiative of stakeholders involved will develop the technology ecosystem and generate more enormous investment chances in Indonesia,” said Purwana.
East Ventures has thoroughly established multiple strategic initiatives for Indonesia’s growth. The implementation of its initiatives was obviously reflected through its action that strives to support digital transformation in all regions across Indonesia.
Moreover, the company has become an early venture capital to sign the Principles of Responsible Investment (PRI), an UN-supported network of investors. The step is performed to ensure sustainable investments and practices and involved in many strategic initiatives to assist stakeholders, including society, entrepreneurs, and the government.
With the latest fundraising, East Ventures have successfully received strong support from existing investors with a re-up rate of 120%. As one of the investors of this fundraising, Managing Partner of Z Holding Group, Shinichiro Hori, uttered, “We sincerely congratulate East Ventures on their fundraising. We are honored to double down our investment in this venture capital firm through this new fund. We are also excited to continue our cooperation to construct the future of Southeast Asia’s technology ecosystem,”
In response to the exceptional result of the latest fundraising, the Managing Partner of East Ventures stated, “We are grateful for the incredible support from sovereign wealth, institutional investors, corporations, family offices, and other limited partners globally. As we continue our journey from institutionalization, we will put our best to deliver meaningful values for our partners in the Southeast Asia technology ecosystem.”
