East, SV target $100m for Southeast Asia-Korea fund

This fund, to be managed by both VC firms, aims to open a corridor between the markets’ respective ecosystems, including capital investment, knowledge transfer, and network sharing. It will invest across sectors and industries, including biotech, healthcare, future mobility, green technology, and media.

The idea is to synergize Indonesia’s pool of young, tech-savvy talent with Korean technological excellence and global reach. The core agenda includes helping Korean start-ups access foreign capital and seek overseas IPOs, while providing regional an opportunity to invest early in Southeast Asian start-ups.

“At SV Investment, we are seeing a great potential in Southeast Asia, and believe Indonesia is leading the growth as the largest economy in the region. In that, we are very happy to collaborate with East Ventures, a leading venture capital firm in Indonesia and Southeast Asia,” David Junghun Bang, a managing partner at SV, said in a statement.

“This collaboration will open up a gate for both Korean and Southeast Asian tech start-ups who have been pushing hard to scale up in the global market and represent our commitments to support them continuously.”

SV invests abroad with branches in Singapore, Shanghai, Shenzhen, and Boston and claims to be one of the most active Korean independent VC firms in Southeast Asia. Standout investees include Indonesian consumer credit company Kredivo, which raised a USD 270m Series D round in March.

East was founded as a Japan-Southeast Asia concept in 2009, quickly setting up a base in Jakarta and focusing strongly on Indonesia. It has invested more than 300 start-ups in Southeast Asia to date, mostly in Indonesia.

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• Topics
• North Asia
• Southeast Asia
• GPs
• Fundraising
• Venture
• Technology
• Indonesia
• South Korea
• East Ventures