East Ventures and Coller Capital complete their first GP-led secondary deal

East Ventures, a Southeast Asian and Indonesian venture capital firm, declared the completion of its first general partner (GP)-led secondary transaction.

According to a statement from East Ventures, which was led by the international secondary firm Coller Capital, the company provided liquidity to limited partners in its East Ventures 5 L.P. (EV5), increasing the fund’s total distributions-to-paid in capital (DPI) by about two times.

EV5 is a top-quartile, high-performing fund on the East Ventures platform that has continued the success of its predecessor funds. It was first created to invest in seed and early-stage rounds of Southeast Asian technology companies.

The whole deal was underwritten by Coller Capital.

Leading Southeast Asian tech firms like IDN and Waresix serve as the foundation of EV5’s portfolio.

The secondary transaction highlights East Ventures’ ongoing belief in its network of top-performing emerging businesses, many of which are also well-represented in the company’s later funds.

Due to the transaction’s profit participation component, EV5 was able to retain its involvement in the portfolio’s future growth trajectory while crystallizing an alluring return for limited partners.

The management teams will continue to gain from East Ventures’ distinctive operational value-add, corporate governance, and Southeast Asia-wide ecosystem, and the company continues to be a major and active shareholder in the businesses.

“We are pleased to partner with Coller Capital in a fast and efficient process to design a solution that not only provides our limited partners with an attractive liquidity milestone but also the opportunity to continue our valued partnership with the entrepreneurs and management teams in these companies,

“We believe the portfolio is well positioned to benefit from the secular tailwinds of the Indonesian growth story, particularly with the rise of its digital economy,” said Willson Cuaca, Co-Founder and Managing Partner at East Ventures.

According to Peter Kim, Partner and Head of Asia and RMB at Coller Capital, the company is pleased to be working with East Ventures to spearhead this deal in Southeast Asia, a dynamic market with significant room for expansion.

“Building on our long-standing relationship, we have delivered swiftly to meet East Ventures’ objectives, providing significant value to their investors,

“The transaction exemplifies Coller’s expertise in delivering innovative, tailor-made liquidity solutions and building alignment with both sponsors and their limited partners,” he added.

According to the statement, the deal further exemplifies how the venture capital and secondary markets in Asia are changing.

The transaction was advised by UBS Private Funds Group.

East Ventures was advised by Gibson, Dunn & Crutcher, while Coller Capital was advised by Debevoise & Plimpton. Coller Capital is a multinational investment company that works in the private asset secondary market.

Currently managing $36 billion in private equity, private credit, and other private market vehicles, the company was founded in 1990 and offers investment and liquidity solutions to private market investors globally.

The company has offices in North America, Europe, and Asia-Pacific, with its headquarters located in London.