Jakarta, Indonesia-based East Ventures held a first close of its eighth vehicle for active early-stage tech startups.
The new fund aims to raise US$88m from limited partners including institutional investors, global funds, and family offices.
Led by Willson Cuaca, Co-founder and Managing Partner, East Ventures believes the main objective in early-stage investing is to find product-market fit as quickly as possible. By having full teams in multiple cities and understanding both Singapore and Indonesia deeply, the firm is able to bridge geographic and cultural biases. East Ventures works closely with all stakeholders, local industry players, family offices, entrepreneurs, early-stage startups, and growth companies, to build growth opportunities for portfolio companies. It has formed a complete startup life cycle from investing at the early-stage, finding product-market fit, creating value and scaling, and finally exits and re-investing.
Founded in 2009, East Ventures has supported more than 170 companies in the Southeast Asian region that are present across Indonesia, Singapore, Japan, Malaysia, Thailand, and Vietnam. It is the first investor of Indonesia’s unicorn companies, namely Tokopedia and Traveloka. Other notable companies in the portfolio include Mercari, Ruangguru, Warung Pintar, Fore Coffee, Kudo (acquired by Grab), Loket (acquired by Gojek), Tech in Asia, Xendit, IDN Media, MokaPOS, ShopBack, CoHive, Koinworks, Waresix, and Sociolla.