East Ventures, an Indonesia-based enterprise capital firm, has partnered with SV Investment, a Seoul-based enterprise capital firm, to launch a brand new fund that goals to lift $100 million. The fund goals to facilitate investment opportunities between Southeast Asia and South Korea.
Both corporations goal promising startups in South Korea and firms in various sectors, including biotechnology and healthcare, future mobility, green technologies and media and content industries.
According to East Ventures, there is critical technological potential in each countries. Indonesia offers a pool of young, tech-savvy talent, while South Korea boasts extensive technology experience and an intensive global reach. Through this collaboration, Indonesia and South Korea can speed up startup development, expand technological capabilities, and leverage significant opportunities in Southeast Asia and beyond.
This partnership also goals to unlock the large potential within the Southeast Asia-South Korea corridor by supporting and accelerating the event of startups within the region. In addition to attracting foreign investment, the fund’s objectives include helping South Korean corporations go public internationally and promoting knowledge sharing.
Within the Southeast Asia enterprise capital ecosystem, the fund is anticipated to supply investors with opportunities to proactively put money into Southeast Asian technology corporations which can be poised for growth as the main target shifts from consumer platforms to more complex technology solutions.
Since its establishment in 2009, East Ventures has supported over 300 technology corporations. Earlier this yr, the enterprise capital firm secured $250 million for its Growth Fund, which focuses on existing growth-stage corporations in its portfolio.
Meanwhile, SV Investment, founded in 2006, manages a portfolio of over 220 corporations. In addition to Jakarta, SV Investment has offices in Boston, Shanghai and Shenzhen. Each of those enterprise capital firms manages roughly $1.5 billion in assets.
Source: Tech in Asia | Global TechNode
