Indonesia- and Southeast Asia-focused venture capital investor East Ventures has partnered with Seoul-based SV Investment to launch the “East Ventures South Korea fund in partnership with SV Investment” with a target corpus of $100 million.
The initiative’s primary goal is to bridge the investment avenues between the Southeast Asian and Korean venture landscapes. This includes capital investments, sharing knowledge, and expanding professional networks.
The funds will be allocated to burgeoning startups and companies, with a focus on sectors like biotech & healthcare, future mobility, green technology, media & content, among others.
Roderick Purwana, Managing Partner at East Ventures, expressed his enthusiasm about the collaboration, stating:
This partnership symbolizes the perfect blend of East Ventures’ profound knowledge of Southeast Asia’s startup realm and SV Investment’s invaluable insights into the South Korean market. Together, we’re looking forward to redefining the Southeast Asia-South Korea corridor’s potential, empowering regional startups for a brighter future.
Both Indonesia and Korea, with their thriving economies and innovative spirit, have a lot to offer in the technology and startup domain. Indonesia, with its growing market and a vast reservoir of tech-inclined talent, complements Korea’s long-standing reputation for technological brilliance and global influence.
This collaboration is poised to supercharge the growth of startups, refine technological proficiency, and tap into the abundant prospects within Southeast Asia and beyond.
The partnership not only aims to aid Korean tech companies in attracting foreign capital and promoting IPOs but also presents investors within the Southeast Asian venture space an early investment chance in technology-driven service companies.
David Junghun Bang, Managing Partner at SV Investment, shared:
Indonesia, being the region’s economic powerhouse, presents immense potential. Our alliance with East Ventures is a pivotal step toward supporting tech startups from both Korea and Southeast Asia aiming to make a mark globally. I’m confident that this synergy will cultivate transformative shifts in the venture ecosystems of both regions.
Established in 2009, East Ventures has a legacy of investing in over 300 tech companies, with success stories like Tokopedia, Traveloka, Xendit, and ShopBack under its belt. SV Investment, with its global reach, remains a dominant venture capital entity in Southeast Asia, continuously promoting innovation and growth.