EARLY-STAGE venture capital (VC) firm East Ventures has raised about US$57 million for the first close of its US$88 million fund to target tech companies emerging in the post-lockdown aftermath of the Covid-19 pandemic. Read more at The Business Times.
EARLY-STAGE venture capital firm East Ventures has raised about US$57 million for the first close of its US$88 million fund to target tech companies emerging in the post-lockdown aftermath of the Covid-19 pandemic.
The firm's eighth fund has secured commitments from global and regional institutional investors, including Temasek unit Pavilion Capital and private market investment firm Adams Street Partners, which are both existing limited partners . The fund will be sector-agnostic in its investment focus. Singapore-based East Ventures has backed more than 170 companies that include Indonesian unicorns Tokopedia and Traveloka, Kudo , Loket , ShopBack and Ruangguru.
"The pandemic has created a chance for a new breed of entrepreneurs to think about new problems and how to solve them in efficient ways via technology," says East Ventures' managing partner Willson Cuaca. "We remain optimistic about the future of South-east Asia's digital economy, and we're particularly bullish on the Indonesian market. We feel the current situation proves our core hypothesis that great founders will find a way to make their companies thrive, even in times of crisis."
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Congo declares end of Ebola outbreak in east, second deadliest in historyThe second-largest Ebola outbreak on record is over after nearly two years and more than 2,200 deaths, Democratic Republic of Congo's health ...
Read more »
HP to open 20 tech hubs in South-east Asia to train the youth in technology and entrepreneurshipSINGAPORE - HP plans to set up 20 tech hubs across South-east Asia by the end of 2020 to help the youth in underserved communities.. Read more at straitstimes.com.
Read more »
BRI Ventures launches VC fund targeting Indonesian tech startupsINDONESIA's BRI Ventures - a corporate venture capital firm under state-owned bank BRI - on Wednesday launched a locally incorporated, independent venture fund to invest in tech startups. Read more at The Business Times.
Read more »
IMF predicts deeper global recession due to coronavirus pandemicThe coronavirus pandemic is causing wider and deeper damage to economic activity than first thought, the International Monetary Fund said on ...
Read more »
Philippines plans record S$119 billion 2021 budget for post-pandemic recoveryMANILA (REUTERS) - The Philippine government is seeking a record 4.3 trillion peso (S$119 billion) budget for 2021 focused on reviving a coronavirus-hit economy expected this year to shrink for the first time in two decades, a top official said on Wednesday (June 24).. Read more at straitstimes.com.
Read more »