Indonesian VC firm East Ventures raises $550 million

Oluwajuwonlo Afolabi -

East Ventures, an Indonesia-based venture capital firm has raised $550 million in its latest funding round. The firm claims $150 million will be allocated to early-stage deals while $400 million goes to growth-stage deals.

  • East Ventures is moving 200 companies from early stages to growth stages and has secured $6.7 billion in follow-up to fund portfolio companies.
  • The firm recently invested $1 million in Bananas, a commerce startup, $3 million in Fraction, an NFT startup and Nusantics, a genome-focused startup.