East Ventures Books 1 Trillion Rupiah Investment Fund, Prioritized for Indonesian Startup Funding

East Ventures yesterday (21/8) announced the closure of their sixth investment fund of $75 million or equivalent to 1 trillion Rupiah. This fund is supported by various elements, ranging from individuals (high net work individuals) such as Wan Xing (CEO of Meituan-Dianping), Eduardo Saverin (Co-Founder of Facebook), and Kaling Li (Co-Founder of Razer).

In addition, the funders also came from investment institutions from Pavilion Capital, Adams Street Partners and Temasek. Several family companies from Indonesia are also involved in this funding, including the Sinarmas Group, Triputra Group and Emtek Group.

Acquisition East Ventures increased 2,5x from the targeted $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 initial to series A funding in various sectors.

However, there is a new vertical that will be the focus of this sixth investment fund, namely SME inclusion, new retail, fintech, news and media, healthtech, supply chain and digital transformation.

"We could have added a lot more, but we want to maintain a certain discipline in this euphoric era. It's important for this ecosystem to keep up the pace value in order to match valuation expectations. And this will have an impact on the performance of our investment funds for stakeholders, namely startup founders, business partners, and investors (LP)," said East Ventures Managing Partner. Willson Cuaca.

One of the "business models" offered by venture capital to the funder is through exit -- can be in the form of acquisition or go public. According to East Ventures, his success with 30 exit increase investor confidence in them. Groupon, Kudo, Counter, Journal, Bride story, and Talenta are some of the startup names that have been successfully acquired.