East Ventures’ Managing Partner Koh Wai Kit Steps Down, Transitions to Advisory Roleby Fintech News Indonesia January 17, 2024
Indonesian venture capital firm East Ventures’ Koh Wai Kit, who had been serving as the Managing Partner since his appointment in 2021, has stepped down from his role. This was confirmed by sources close to DealStreetAsia.
Prior to his tenure at East Ventures, Kit was deeply involved in the venture capital sector, holding the position of CEO at a licensed fund management platform.
He also played a foundational role at Pavilion Capital, a private equity firm backed by Temasek, leading investments across various Asian markets and in several notable tech unicorns including Gojek, Didi, and Xiaohongshu.
Prior to this, Operating Partner David Fernando Audy had also stepped down in November 2023, transitioning to a director role at Sinar Mas.
East Ventures’ Co-founder and Managing Partner Willson Cuaca commented on these changes, noting that they stem from unique, personal circumstances.
He confirmed that while Koh Wai Kit is transitioning to an advisory role starting January 2024, there are no immediate plans to seek a replacement. Cuaca emphasised that the existing partners and team would absorb their responsibilities.
Under Kit’s guidance, East Ventures reached significant milestones, including the successful raise of US$250 million for its latest fund, Growth Plus.
The firm, with over US$1.5 billion in assets under management, has made investments in over 300 companies including fintechs such as Xendit, wagely, Finantier among others.
Featured image: East Ventures