East Ventures and SV Investment Set Up $100 Million Fund to Support Southeast Asian and South Korean Startups

East Ventures and SV Investment Set Up $100 Million Fund to Support Southeast Asian and South Korean Startups

East Ventures, an Indonesia-based venture capital firm, has partnered with SV Investment, a Seoul-based venture capital firm, to launch a new fund with a target of raising $100 million. The fund aims to facilitate investment opportunities between Southeast Asia and South Korea.

Both firms are targeting promising startups in South Korea and companies in various sectors, including biotechnology and healthcare, future mobility, green technology, and media and content industries.

According to East Ventures, there is significant technology potential in both countries. Indonesia offers a pool of tech-savvy young talent, while South Korea has a strong technological track record and extensive global reach. Through this collaboration, Indonesia and South Korea can accelerate startup growth, enhance technological capabilities, and capitalize on significant opportunities in Southeast Asia and beyond.

This partnership also aims to unlock the vast potential within the Southeast Asia-South Korea corridor by supporting and accelerating startup development in the region. In addition to attracting foreign investment, the fund's objectives include assisting South Korean companies in going public internationally and promoting knowledge sharing.

Within the Southeast Asian venture capital ecosystem, the fund is expected to provide investors with proactive investment opportunities in Southeast Asian technology companies that are poised for growth as they shift their focus from consumer platforms to more complex technological solutions.

Since its inception in 2009, East Ventures has supported more than 300 technology companies. Earlier this year, the venture capital firm secured $250 million for its Growth Fund, which focuses on existing growth-stage companies in its portfolio.

Meanwhile, SV Investment, founded in 2006, manages a portfolio of more than 220 companies. In addition to Jakarta, SV Investment has offices in Boston, Shanghai and Shenzhen. Each of these venture capital firms manages approximately $1.5 billion in assets.

Source: Tech in Asia | TechNode Global

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