East Ventures raises 3rd fund, will invest in over 20 startups from Southeast Asia
East Ventures, an early stage investment fund in Indonesia and Japan, will start its third fund which will focus on Southeast Asia. The money will be put into startups in the consumer internet and mobile space, primarily from Singapore and Indonesia.Started in 2010, the firm has invested in over 20 companies in Indonesia, over 40 in Japan, and three in Singapore. Examples include Square competitor Coiney, baby ecommerce store Bilna, and of course, Tech in Asia. East Ventures does not publicly disclose the size of its investments.According to Willson Cuaca, co-founder and managing partner at East Ventures, the third fund will do a similar amount of investments to the first fund, which backed 29 startups in four years. Out of these companies, 10 have died and two exited, while 77 percent of the 17 active companies have gotten follow-on money.