Indonesian Startups Are Still Primadonna for East Ventures

East Ventures injected US$ 6.7 billion or Rp. 96.7 trillion in additional funding to startups. The venture capitalist also recorded an annual gross merchandise value (GMV) of more than US$86 billion or Rp 1.234 trillion. East Ventures closed more than 80 funding deals last year as a leading VC. A total of 48 of the deals are new companies. The amount of funding has doubled compared to the previous year.

"This strengthens East Ventures' leadership position in Southeast Asia in bringing more impact to society," East Ventures said in its Sustainability Report 2020 report released Wednesday. Over the past year, East Ventures has been aggressively investing in startups.

East Ventures is also involved in funding the culinary startup Legit Group. Indonesia-based multi-channel e-groceries platform Pasarnow also announced a US$ 3.3 million seed funding led by East Ventures. The company also led a US$ 50 million or Rp 717 billion series B funding round for insurance startup (insurtech) Fuse last year.

In addition, East Ventures has made 30 exit strategy deals. East Ventures' portfolio startups that have implemented exit strategies are Kudo (acquired by Grab), Loket (acquired by Gojek), and Bridestory (acquired by Tokopedia).