Photo credit: East Ventures
East Ventures has secured US$250 million for the first and final closing of its Growth Plus fund, which will invest in growth-stage companies already in its portfolio.
The Indonesia-focused VC firm, who is also an investor in Tech in Asia, noted that it will continue to invest in early-stage and growth-stage companies through its Seed and Growth funds, which have been extended to have a corpus of US$585 million.
The Growth Plus fund is part of East Ventures’ multistage investment strategy, which helped the company raise US$835 million in the past year in total for its funds.
East Ventures said that 60% of its growth-stage portfolio companies either have positive EBITDA or a clear path to it, and more than 40% have runways beyond 2025.
The firm also aims to achieve sustainable development and social impact through its initiatives and ESG practices.
East Ventures, which started in 2009, has backed over 300 companies in Southeast Asia, including unicorns Tokopedia and Traveloka.
See also: Exclusive: Init6, East Ventures back Indonesian rental firm from ex-Listee execs
Some of the company’s most recent investments include those for Indonesian supply chain firm Praktis, Vietnamese edtech startup Prep, and TipTip – an influencer platform started by a former Grab director.
Editing by Thu Huong Le and Jaclyn Tiu
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