Indonesian VC Firm East Ventures Raises $550M for Latest Funds

East Ventures, a sector agnostic venture capital firm in Indonesia, has raised a total of US$ 550 million in the final close of its latest funds.

Fazzaco Live Webinar on 12th May: Vladimir Moshkov on How to Start a Crypto Exchange from Scratch

Founded in 2009, East Ventures has transformed into a holistic platform that provides multi-stage investment, including seed and growth for over 200 companies in Southeast Asia.

The venture firm said that it will allocate US$ 150 million for early-stage deals and US$ 400 million for growth-stage deals.

"We are very bullish about Indonesia yet mindful of the global market condition. We have built a strong return track record for more than a decade and as the ecosystem flywheel effect kicks in. East Ventures is well-positioned to ride on it. We have been transforming ourselves from a seed-stage investor into a multi-stage investor and into becoming an efficient and robust platform to support entrepreneurship." said Willson Cuaca, Co-Founder and Managing Partner of East Ventures.

"We are grateful for the strong support from sovereign wealth, institutional investors, corporates, family offices, and many other limited partners globally. As we continue in our journey of institutionalisation, we will do our utmost to drive value for our partners in Southeast Asia's tech ecosystem," said Koh Wai Kit, Managing Partner of East Ventures.

Source: Fintech News