East Ventures, SV Investment announce first close of $100 M Southeast Asia-South Korea investment corridor fund
The $100 million Southeast Asia fund’s first close was announced Monday by SV Investment, a publicly traded venture capital and private equity firm with its headquarters in South Korea, and East Ventures, a venture capital firm with offices in Indonesia and Southeast Asia.
Leading Korean and Indonesian investors are supporting this initial closing, the pair said in a statement.
The fund is dedicated to building on the track record and exceptional performance provided by East Ventures and SV Investment thus far, with anchor capital from the Korea Development Bank (KDB), Korea’s state-owned development bank, and strategic commitment from one of the top neobanks in the world.
The fund is on track to complete its final closing by the middle of 2025 and is still interacting with investors.
The fund is prepared for deployment and is jointly managed by the top venture capital firms in both nations.
High-potential tech startups in South Korea and Southeast Asia looking to expand at scale are being actively sought after by East Ventures and SV Investment.
As a lead investor in high-conviction ventures led by outstanding founders, the fund anticipates investing in profitable startups, ideally obtaining Series-A to B funding with check sizes ranging from $1 million to $3 million.
“This first close marks a significant milestone in our shared commitment to fostering cross-border collaboration and investment between Southeast Asia and South Korea,” said Roderick Purwana, Managing Partner at East Ventures.
“We are deeply grateful for the anchor support from our early limited partners and are excited about the opportunities ahead,
“Together with SV Investment, we are committed to forging a productive and healthy Southeast Asia for today, tomorrow, and for generations to come,” he added.
The fund will be crucial in fostering closer relations and closing the divide between South Korea and Southeast Asia, according to David Junghun Bang, Managing Partner at SV Investment.
“Together with East Ventures, we are strongly committed to generating valuable synergy for both regions as South Korea will have increasing opportunities to expand into one of the fastest-growing and largest markets, while Southeast Asia will benefit from the adoption of advanced technology from South Korea and drive its economy to next level,” he added.
East Ventures was established in Indonesia in 2009 and has raised nine funds with a Southeast Asian focus.
With investments in more than 300 seed and growth-stage tech businesses, the company has produced favorable social and environmental effects in addition to impressive financial returns.
