East Ventures announces new $30M fund to continue investing in Indonesia
East Ventures is back at it again with another new fund to invest in early-stage companies in Indonesia, Southeast Asia’s largest economy and the world’s fourth most populous country.
This new $30 million fund is the firm’s sixth to date in Southeast Asia, and remarkably its second in 2017 alone. A $27.5 million fund announced in January was fully deployed in less than a year as outside interest in Southeast Asia blew up in 2017, with Indonesia the focal point for investors like Chinese web giants Alibaba and Tencent. Today marks the first close of the new fund.
East Ventures is one of the region’s longest-serving seed investors, having been active since 2010, and it is one of the few to have actually returned funds — the ultimate factor that defines success in VC land.
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