Gabriel Budi Sutrisno · · 2 min readEast Ventures launches $100m South Korea fund with SV Investment
The MoU signing ceremony for East Ventures and SV Investment’s US$100 million new fund was attended by Indonesia’s ambassador to South Korea, Gandi Sulistiyanto (fourth from left). / Photo credit: East Ventures
East Ventures is partnering with Seoul-based VC firm SV Investment to launch a new fund that aims to raise US$100 million. The fund is expected to open the investment corridor between Southeast Asia and South Korea.
The two firms are targeting promising South Korean startups and companies in sectors such as biotech and healthcare, future mobility, greentech, as well as media and content.
East Ventures said it sees significant tech opportunities in both countries: Indonesia can provide a pool of young and tech-savvy talent while South Korea has a track record of tech excellence and global reach. (Disclosure: East Ventures is an investor in Tech in Asia.)
In addition to attracting foreign capital, the fund also aims to help South Korean companies go public internationally and increase knowledge-sharing.
Since its establishment in 2009, East Ventures has backed over 300 tech companies. Earlier this year, the VC firm secured US$250 million for its Growth Plus fund, which targets growth-stage companies already in its portfolio.
Meanwhile, SV Investment was founded in 2006 and has over 220 portfolio companies. Besides Jakarta, SV Investment also has offices in Boston, Shanghai, and Shenzhen.
The two VC firms are each handling around US$1.5 billion in assets under management.
See also: Exclusive: East Ventures leads $600k seed round of Singapore D2C firm
Editing by Miguel Cordon and Eileen C. Ang
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