East Ventures Funds 1 Trillion Rupiah Funding Indonesian Startups
East Ventures yesterday (21/8) announced the closing of its sixth investment fund for $ 75 million or equivalent to 1 trillion Rupiah. This fund is supported by various elements, ranging from high network individuals such as Wan Xing (Meituan-Dianping CEO), Eduardo Saverin (Facebook Co-Founder), and Kaling Li (Razer Co-Founder).
Besides, funders also came from investment institutions ranging from Pavilion Capital, Adams Street Partners and Temasek. Several family companies from Indonesia are also incorporated in this funding, including Sinarmas Group, Triputra Group, and Emtek Group.
The acquisition of East Ventures increased 2.5x from the target of $ 30 million. Later the investment funds obtained will be used to increase support for the startup ecosystem in Southeast Asia, especially in Indonesia. The trend is to be given in the initial funding to Series A in various sectors.
Nevertheless, there is a new vertical that will be the focus of this sixth investment fund, namely the inclusion of UKM, new retail, fintech, news and media, health tech, supply chain, and digital transformation.
“We can actually add more, but we want to maintain certain discipline in this euphoric era. This ecosystem needs to maintain the speed of value creation so that it can be under valuation expectations. And this will have an impact on the performance of our investment funds for stakeholders, namely the founders of startups, business partners, and investors (LP), “said Managing Partner of East Ventures Willson Weather.
One of the “business models” offered by venture capital to funders is through exit – it can be in the form of acquisitions or going public. According to East Ventures, his success with 30 exits increased investor confidence in them. Groupon, Kudo, Loket, Jurnal, Bridestory, and Talent are some of the names of startups that were successfully acquired.