East Ventures

East Ventures is a Jakarta, Indonesia-based early stage venture capital (VC) firm. Founded in 2009,[1] it is one of the longest-serving seed investors in Southeast Asia.[2][3]

East Ventures
TypeVenture capital
Founded2009
Founders
  • Batara Eto
  • Chandra Tjan
  • Taiga Matsuyama
  • Willson Cuaca
Headquarters
Jakarta, Singapore, Tokyo
Key people
  • Batara Eto (Managing partner)
  • Taiga Matsuyama (Managing partner)
  • Willson Cuaca (Managing partner)
  • Melisa Irene (Partner)
  • Takeshi Kaneko (Partner)
Websiteeast.vc

History

East Ventures was founded in 2009 by Batara Eto, Chandra Tjan, Taiga Matsuyama, and Willson Cuaca as one of the first VC firms in Indonesia. The company's first investment was for Indonesian tech company Tokopedia, which eventually became known as a tech unicorn.[2]

In April 2017, the company saw its largest exit when mobile payments processor and early East Ventures investment Kudo was acquired by ride-sharing firm Grab, for US$100 million.[4]

In March 2018, East Ventures launched the EV Growth fund, a joint venture between East Ventures, SMDV, and Yahoo! Japan, which provides series B and later-stage funding to startups in Southeast Asia.

In May 2019, EV Growth announced it raised funding of US$200 million from Softbank Group, Pavilion Capital, and Indies Capital.[5] In August, the firm raised US$75 million for its sixth fund.[6]

Investments

East Ventures has invested in over 160 startups with more than US$4 billion in follow-on rounds.[7] In addition to Tokopedia, its portfolio includes unicorn startup Traveloka,[8] Japanese e-commerce Mercari,[9] co-working startup CoHive (previously known as EV Hive),[10] Indonesian education technology company Ruangguru,[11] and cashback reward platform ShopBack.[12]

East Ventures is one of the most active venture capital investors in Southeast Asia.[13] It was recognised by Crunchbase as one of the top eight seed investors worldwide in Q3, 2018.[14]

According to data from research firm Preqin, the fund is among the most consistent top performing venture capital fund managers in the world. East Ventures is one of five firms worldwide to have three funds ranked in Preqin’s top quartile; that puts it alongside names like Benchmark Capital.[15]

References
  1. Menur, Anisa. "A decade of innovation: How East Ventures is building Indonesian tech ecosystem from the ground up". e27. Retrieved 1 September 2019.
  2. Muskita, Putra. "How East Ventures became a top venture capital firm in Southeast Asia". Tech in Asia. Retrieved 26 August 2019.
  3. Russell, Jon. "East Ventures announces new $30M fund to continue investing in Indonesia". TechCrunch. Retrieved 26 August 2019.
  4. Russell, Jon. "Uber rival Grab makes first major acquisition to build out its payments platform". techcrunch.com. Retrieved 3 September 2019.
  5. Lee, Yoolim. "SoftBank Joins Record Indonesia-Focused Growth Venture Fund". Bloomberg. Retrieved 26 August 2019.
  6. Potkin, Fanny. "Indonesian VC fund, backed by co-founders of Alibaba, Facebook, raises $75 million". Reuters. Retrieved 26 August 2019.
  7. "East Ventures closes oversubscribed sixth fund at US$75mil". Digital News Asia. Retrieved 26 August 2019.
  8. Yap, Jacky. "East Ventures backs ex-Silicon Valley engineer's travel startup". e27. Retrieved 26 August 2019.
  9. Hirano, Takeshi. "Japanese flea market app Mercari raises $500,000 from East Ventures". The Bridge. Retrieved 1 September 2019.
  10. Russell, Jon. "Indonesia's EV Hive raises $13.5M and expands into co-living and new retail". TechCrunch. Retrieved 26 August 2019.
  11. Yusuf, Oik. "Ruangguru.com Memperoleh Pendanaan dari East Ventures". Kompas. Retrieved 26 August 2019.
  12. Louisse, Donna. "Shopback nabs US$600,000 in funding led by East Ventures". e27. Retrieved 4 September 2019.
  13. Bot, TIA. "These are the most active investors in Southeast Asia's startups". Tech in Asia. Retrieved 26 August 2019.
  14. Rowley, Jason D. "The Q3 2018 Global VC Report: New Records Hit Amid Seismic Shift In The Industry". CrunchBase. Retrieved 26 August 2019.
  15. Chong, Claudia. "Singapore's East Ventures among world's most reliably top performing VCs: Preqin". The Business Times. Retrieved 26 August 2019.
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