Indonesian VC East Ventures Raises US$250 Million for Its Growth Plus Fundby Fintech News Indonesia May 22, 2023
Indonesia-focused venture capital firm East Ventures announced the first and final close of its US$250 million Growth Plus fund. The fund will specifically target its own portfolio companies that demonstrate strong potential.
East Ventures added that its Seed and Growth funds have received strong interest and have been extended to US$585 million. This brings the total funds raised by East Ventures in the past year to US$835 million.
The firm will continue to invest in early-stage and growth-stage companies through its Seed and Growth funds, while the Growth Plus fund will provide East Ventures’ portfolio companies with the resource to scale and grow.
60% of East Ventures’ portfolio companies at growth stage have had either positive EBITDA or a clear path to positive EBITDA, and more than 40% of them have runway beyond 2025.
East Ventures said in a statement,
“East Ventures’ multi-assets class strategy underscores its commitment to supporting tech companies at various stages of their development.
With this latest funds close, East Ventures is well-positioned to drive innovation, foster entrepreneurship, and provide positive impacts to the vibrant startup ecosystem in Indonesia and beyond.”