Southeast Asian venture capital firm, East Ventures, has prepared US$325 million to invest next year - Photo by East Ventures

JAKARTA (TheInsiderStories) – Southeast Asian venture capital firm, East Ventures, has prepared US$325 million to invest next year, the management said today (11/20). The fresh funds are focused to be injected into the logistics sector, content for all sectors, and local products.

“The total funds prepared for next year and the following years are around $325 million from its sixth fund $75 million and $250 million growth fund. We want to boost local products because currently, Indonesia has a good infrastructure, politics is stable, connectivity is more efficient,” Managing Partner East Ventures Willson Cuaca told reporters in Jakarta.

To date, East Ventures has supported more than 300 startup founders and helped develop more than 160 startups including two Indonesian unicorn startups of around $4 billion, Cuaca explained.

Currently, he went on, East Ventures will still look for up to 10 new start-ups to be funded by the end of the year. Until October 2019, there have been announced 22 funding. Of these 14 of them are new portfolios, Cuaca said.

Cuaca explained East Ventures is open to all vertical start-up and early-stage funding. But in 2019, East Venture focuses on new retail, e-commerce enabler, fintech, and digital solutions for small and medium enterprises. However, he did not specify the total investment that had been disbursed to the start-ups. Likewise, the start-up target will be invested until the end of this year.

With these investments, East Ventures naturally contributes to the formation of digital infrastructure in the country. Last year, the firm also cemented its commitment to continuously support its portfolio companies and to build the digital infrastructure of Indonesia with the launching of its $250 million joint growth fund, EV Growth.

Two months ago, East Ventures announced has closed its sixth fund at $75 million, with support by prominent startup founders helping to surpass the fund’s initial $30 million targets.

Those investors include Facebook co-founder Eduardo Saverin, Alibaba co-founder Eddy Wu, Meituan-Dianping chief executive Wang Xing, Dianping founder Zhang Tao, and Razer Inc co-founder Kaling Lim. Institutional investors include Temasek, the Singapore government-owned investment firm, Pavilion Capital and Adams Street Partners.

The prominent family-controlled Sinarmas, Triputra and Emtek groups also joined in. Earlier this year, East Ventures and Sinar Mas Digital Ventures (SMDV) duet injected a startup of Fore Coffee worth $8.5 million.

Today, Fore Coffee, a technology-based coffee network that uses 100 percent of Indonesia’s best Arabica coffee beans, announced to expand in 1,000 locations throughout the archipelago with total fund around $9.5 million. The startup also officially announced a strategic partnership with Airy, the most accommodation network operation in Indonesia.

Some start-up portfolios that have been funded by East Ventures are Ride Jakarta, start-up companies in the fields of lifestyle, Waresix, Julo (fintech), Phi Integration (big data) and EV Hive. Then there are Nodeflux (AI), Mechanic (automotive), Moladin (automotive), Sweetescape (service), Cicil (tekfin), Katadata (media), Language.ai (AI), Member.id (service), and Fore Coffee (service).

Written by Lexy Nantu, Email: lexy@theinsiderstories.com