East Ventures, a Southeast Asian venture capital company, announced an investment of 30 million USD for Indonesian startups. This is the sixth fund collected and managed by the three founders of East Ventures; Willson Weather, Batara Eto, and Taiga Matsuyama.
A recent report by A.T.Kearney stated that investment in Indonesia is soaring due to strong macroeconomic prospects and excellent demographics. Funding in Indonesia from January to August 2017 has reached US$3 billion, more than 60 times higher than in 2012.
The study also mentions that in Indonesia, 244 companies have secured 381 series of funding between 2012 and 2017.
East Ventures is one of the most active technology investors in Southeast Asia. The company has contributed to 192 transactions or 50 percent of total transactions in Indonesia.
East Ventures has funded 116 companies with a sustainability rate of 83 percent. Of the 96 active companies, most have followed the upcoming A-Series investment cycle.