A venture capital company in Indonesia and Southeast Asia named East Ventures announced the launch of its first healthcare-specific fund, which will be worth $30 million and support new healthcare initiatives in Indonesia.
The “East Ventures Healthcare Fund” aims to empower and support promising Indonesian startups that address the distinct challenges and opportunities in the Indonesian healthcare landscape, according to a statement from East Ventures. East Ventures has a strong commitment to fostering innovation and improving healthcare access in Indonesia.
“Indonesia is one of Southeast Asia’s most dynamic healthcare markets with enormous potential for innovation and growth,
“With our extensive experience in investing across sectors and stages, we believe this healthcare fund will play a pivotal role in fostering and catalyzing healthcare innovation in Indonesia,” said Willson Cuaca, Co-Founder and Managing Partner at East Ventures.
He claims that this fund is the company’s demonstration of its ongoing dedication to this industry.
“We are committed to keep collaborating and working with all related stakeholders in forging a healthy and productive Southeast Asia for today, tomorrow, and more generations to come,” he added.
Prior to the establishment of this fund, East Ventures was actively investing in regional healthcare startups and established businesses, building up the firm’s portfolio to 30 healthcare-related companies.
Recent investments like Mesh Bio, AMILI, Aevice Health, Etana, etc. are included.
In addition, East Ventures has invested in genomics startups like NalaGenetics and Nusantics, which are currently driving the genomics-based healthcare revolution in Indonesia and Southeast Asia, despite the fact that investments in genomics-related ventures were relatively novel in 2018.
It should be noted that East Ventures launched a number of initiatives to improve Indonesia’s healthcare system during the COVID-19 pandemic’s health crisis.
It includes the Indonesia PASTI Bisa (“IDPB”; literally, Indonesia Can Do It) in March 2020.
The IDPB initiative later evolved into a platform for mobilizing all of East Ventures’ digital ecosystem’s advantages to support the efforts of the public and private sectors to lessen COVID-19’s detrimental effects on the country.
In order to mitigate COVID-19, IDPB has started three programs: IDPB Test Kit, IDPB Safeguards PPE, and IDPB Safeguards Oxygen.
East Ventures has also contributed to helping Indonesia develop its genomics industry.
