Indonesia seems to be on the right track to be good investment destination. Recently, according to Tech Crunch, East Ventures is back at it again with another new fund to invest in early-stage companies in Indonesia.
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.
The data is certainly impressive.
East Ventures says 70 percent of Series A-funded startups in Indonesia bagged seed funding from the firm, while 83 percent of its 116 portfolio companies remain in business today.
Then there are some big gets. The firm has equity in three of the six startups around Southeast Asia: Traveloka, Tokopedia and Grab.
The plan is very much to continue with the investment focus on Indonesia, although the firm said it may entertain deals in other countries in Southeast Asia further down the line.
At this moment the GDP of Indonesia is nearly $1 trillion. Singapore, Malaysia and the Philippines combined is still smaller.
The online population around 90-100 million which still grows until now.