East Ventures launches $30m Southeast Asia VC fund

It is the Singapore-based firm’s sixth fund aimed at the region. Fund V closed earlier this year at $27.5 million with backing from family offices and entrepreneurs across Asia.

Founded in 2010, East operates across offices in Singapore, Jakarta, Tokyo and San Francisco, with 96 active portfolio companies in Southeast Asia. It has invested 116 companies in total.

The GP cited a favorable macroeconomic and demographic environment as part of its Indonesia strategy, including a study suggesting deal flow in the country has increased 60x in value since 2012 to $3 billion. According to a statement, East has contributed to 50% of Indonesia’s deal flow and more than 70% of the companies that received Series A funding in the country.

Venture investment in Indonesia is benefiting from increased attention from corporate VCs and family groups. Investment reached $781 million last year, although most of this was committed to ride hailing and delivery player Go-Jek. Temasek Holdings estimates that Southeast Asia is leading the growth of internet users in Asia and will have an internet economy worth more than $200 billion by 2025.

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• Topics
• Southeast Asia
• Fundraising
• Technology
• Early-stage
• East Ventures
• Indonesia
• Venture