East Ventures Closes Growth Plus Managed Fund of 3,7 Trillion Rupiah

Today (16/5), East Ventures announced that it has closed a new managed fundraising called Growth Plus of $250 million (over 3,7 trillion Rupiah). The fund will specifically target advanced funding within the East Ventures ecosystem that demonstrates strong potential.

There is no mention of LP in the managed fund. However, the company said that this funding shows LP's confidence in East Ventures' investment strategy. Two managed fund at Seed and Growth has received good returns and has extended to $585 million (over 8,6 trillion Rupiah). This brings the total funds East Venturese has raised since last year to $835 million (over 12,3 trillion Rupiah).

In an official statement released by the company, East Ventures' multi-asset class strategy underscores its commitment to supporting technology companies at various stages of their development.

"With the closing of this latest round of funding, East Ventures is well positioned to drive innovation, encourage entrepreneurship, and have a positive impact on the dynamic startup ecosystem in Indonesia and beyond," the company wrote.

It was explained that currently East Ventures portfolio companies have shown promising traction. As much as 60% of the portfolio is on positive EBITDA growth or a very clear path to positive EBITDA, and more than 40% of them have runway after 2025.

"The company will continue to invest in early-stage and growth-stage companies Seed and Growth funds, while the Growth Plus fund will provide East Ventures portfolio companies with the resources to scale and reach their full potential," the company concluded.

East Ventures is one of the VCs most actively investing in Indonesia. In the previous presentation, delivered until the first quarter of 2023, as many as 20 startups had been funded. $6,7 billion fell into the advanced investment category (follow-on funding).

East Ventures has also pocketed $86 billion annualized GMV with $1 billion Assets Under Management (AUM). It is recorded that 90% of their portfolio has positive margins.

Since its founding in 2009, East Ventures has transformed into a holistic platform that provides early to late stage investment to more than 300 technology companies in Southeast Asia.

East Ventures is the first investor in Indonesian unicorns, namely Tokopedia and Traveloka. Other companies included in its portfolio include: Ruangguru, SIRCLO, Kudo (acquired by Grab), Counter (acquired by Gojek), Tech in Asia, Xendit, IDN Media, MokaPOS (acquired by Gojek), ShopBack, KoinWorks, Waresix, and Sociolla.