Singapore-based venture capital firm East Ventures today announced a new US$27.5 million fund targetting at Southeast Asian startups. Raised from undisclosed “prominent families and entrepreneurs”, the fund marks the company’s fifth after six years of operation.
In a press statement, East Ventures claimed that assets under its management has increased ten fold, and that this year it is expecting to see more mergers and acquisitions of its portfolio companies.
The company also noted there will be fewer Series B investments this year, though it will continue to invest in more than 20 startups in the region, which it claimed to be its average number per year.
DailySocial noted in its annual fintech report that East Ventures has been the most active investor in the Indonesian fintech sector in 2016, with almost half of announced funding rounds involving the company.
Also Read: Financial e-commerce platform Cermati raises US$1.9M Series A round led by East Ventures
In 2016, East Ventures had also invested in several agritech startups including Eragano, iGrow, and LimaKilo.
East Ventures has 80 active portfolio in Southeast Asia with more than 70 per cent of them claimed to have received follow-on funding. Its most notable portfolio includes Tokopedia and Traveloka, which are often believed to be the region’s next unicorns.
It also operates the coworking space EV Hive in South Jakarta and BSD City.
Image Credit: georgerudy / 123RF Stock Photo
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