East Ventures closes new $30M account to continue investing in Indonesia

East Ventures is behind during it again with another new account to deposit in early-stage companies in Indonesia, Southeast Asia’s largest economy and a world’s fourth many populous country.

This new $30 million account is a firm’s sixth to date in Southeast Asia, and remarkably a second in 2017 alone. A $27.5 million account announced in Jan was entirely deployed in reduction than a year as outward seductiveness in Southeast Asia blew adult in 2017, with Indonesia a focal indicate for investors like Chinese web giants Alibaba and Tencent.

East Ventures is one of a region’s longest-serving seed investors, carrying been active given 2010, and it is one of a few to have indeed returned supports — a ultimate cause that defines success in VC land.

The information is positively impressive.

East Ventures says 70 percent of Series A-funded startups in Indonesia bagged seed appropriation from a firm, while 83 percent of a 116 portfolio companies sojourn in business today.

Then there are some large gets. The firm has equity in 4 of a 5 unicorns in Southeast Asia:

  • Traveloka, which raised $350 million from Expedia
  • Tokopedia, which raised $1.1 billion led by Alibaba
  • Grab, that acquired East Ventures portfolio association Kudo in January
  • Go-Jek, which acquired East Ventures portfolio association Loket in August

The devise is really most to continue with a investment concentration on Indonesia, nonetheless a organisation pronounced it might perform deals in other countries in Southeast Asia serve down a line.

“From day one, Indonesia is a story we believed in,” handling partner Willson Cuaca — who started a organisation in Indonesia with  the former CTO of Japanese amicable network Mixi, Batara Eto — told TechCrunch in an interview.

“At this impulse a GDP of Indonesia is scarcely $1 trillion. Singapore, Malaysia and a Philippines total is still smaller, so it’s transparent this is a outrageous economy.

“From a internet side, when we entered Indonesia in 2010, a online race was around 22 million. Right now, it’s around 90-100 million. Which other nation in a universe has that kind of growth? No nation will have a delta of 80 million,” he added.

Already, a fund’s initial investment has been announced: financial inclusion height Telcoin, that uses digital tokens to assistance bank a unbanked in Indonesia and other rising markets.

Featured Image: Everyone Sinks Starco/Flickr UNDER A CC BY-SA 2.0 LICENSE (IMAGE HAS BEEN MODIFIED)

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Posted by on Sep 21 2017. Filed under NEWS. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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