East Ventures Closes $250 Million Fund, Defying Tech Slowdown
- Indonesia-focused VC firm raised $835 million in the past year
- Its past investments include Tokopedia and Traveloka
East Ventures, Southeast Asia’s most active early-stage tech investment firm, raised $250 million for its 12th fund, a rare sign of confidence in the global technology sector during a tumultuous year.
The Indonesia-focused firm will allocate the money as follow-on investments toward growth portfolio companies that demonstrate strong potential, it said in a statement Tuesday. Many of its portfolio companies at growth stage — about 60% — have hit or are close to hitting positive earnings before interest, taxes, depreciation and amortization, it said.