East Ventures Starts Third Phase Investment, Keeps Aiming for Startups Focusing on B2C and Mobile

East Ventures as an early stage startup VC announce third stage funding. Although it did not say how much the investors got for this round, Willson Cuaca as one of the founding partners  and Managing Partner of East Ventures said they are still targeting startups that focus on B2C services (individual consumers) and have a strategy in the mobile realm.

Willson himself in his talks with DailySocial did not have a specific target on how many startups would receive the initial investment (early stage). Reflecting on the experience of winning the first round of funding, they provided funding for more than 20 startups. Startups that want to be invested do not only come from Indonesia, they can also come from other countries in the region depending on the quality of the startup. Apart from Indonesia, East Ventures is also active in Singapore and Japan.

Regarding whether East Ventures is interested in entering the next round, Willson replied that they could enter the area seed funding and the next important round remains in the early stages. As Willson told Tech In Asia, of the 29 startups that East Ventures has funded in the past four years, 10 have died and they have succeeded. exit at two startups. Meanwhile, for the remaining 17 startups, 77% of them have obtained further funding.

Regarding the startup ecosystem in the region, and particularly in Indonesia, Willson said he still believes in the potential of startups in this region. According to him, the ecosystem is good for early stage startups. Many investors and startups have attended and grown and in the future he hopes that this digital business momentum will also be supported by the government.

According to him, the government should not make regulations that hinder the growth of startups because what the ecosystem currently needs is a catalyst to develop, even though it is still in the early phase.

Previously, East Ventures had established an acceleration program East Ventures Alpha in Jakarta in 2011, but closed after two years due to a lack of quality startups (and funding) to take to the next stage. In addition to Jakarta, East Ventures also builds accelerators in Japan whose market and startup quality are more mature.

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