The inaugural summit held by East Ventures on 20-21 July 2022 in Bali, Indonesia. With a theme of “Navigating Crisis: Balancing Innovation and Resilience”, East Ventures Summit 2022 gathered the EV family, from LPs, startup founders, and EV team to enjoy the welcoming dinner, first offline Annual General Meeting (AGM) after 3 years, panel discussions, Pitching by the Sea, and gala dinner.
East Ventures supports two surfing tournaments in Bali, the Vans Bali Pro presented by East Ventures and the Liga Surfing Indonesia 2021 Grand Final, which take place at Bali’s most well-known beach destination of Halfways, Kuta Beach, Bali.
Carro, Singapore-based online automotive marketplace, became unicorn in June 2021, followed by Xendit, Indonesia-based payment gateway company as the first B2B payment unicorn.
The soaring number of COVID-19 cases in Indonesia has resulted in the oxygen supply shortage. East Ventures successfully raised US$ 1,213,354 from 790 individual and corporate donors to bring in 1,450 oxygen concentrators to hospitals in Indonesia. It exceeded the donation target (121.34% of US$ 1 million target) within 10 days.
East Ventures – Digital Competitiveness Index 2021 Launched
The second EV-DCI identified the rapid increase of digital adoption accelerated by the pandemic across Indonesia’s 34 provinces and 25 major cities.
East Ventures Takes Leadership on EV Growth Fund
The change of leadership results in restructuring the co-GP structure of EV Growth. Roderick Purwana is appointed as a Managing Partner of East Ventures. The EV Growth team members and part of the SMDV team will join East Ventures.
East Ventures and its partners distributed personal protective equipment (PPE) to Indonesian health workers. Using e-commerce technology, we made the procurement of PPE units easier and more seamless. Health-workers could request PPEs from anywhere, while donors could provide PPEs to where it is most needed.
In response to the COVID-19 pandemic, East Ventures formed IDPB: a platform to mobilize all the strengths of the firm’s digital ecosystem to support government and the private sectors’ efforts in tackling the COVID-19 outbreak in Indonesia. By repurposing our capabilities, we joined together to fight against the COVID-19 pandemic.
East Ventures, SMDV, and Yahoo! Japan Capital launched a growth fund, namely EV Growth, for investment in Series B and above in Southeast Asia. EV Growth hit the hard cap of its first fund at US$250 Million, exceeding the firm’s initial US$150 Million target.
East Ventures raised its third fund and changed hypotheses. E-commerce could be accelerated by the rural areas. Started to invest in SME Solution, O2O, E-Commerce Services, and education startup: Ruangguru.
Willson met the founders, Ferry Unardi and Derianto Kusuma, when Ferry planned to drop out of Harvard Business School.
The partners met with William Tanuwijaya and shared the same vision of economic inclusion by digital technology in Indonesia. The deal for Tokopedia was closed after 3 meetings, in under 28 hours.
East Ventures was Founded
The founding partners decided to build East Ventures in Indonesia as they see the potential in the country. At that time, the internet users in Indonesia was only 30 million, 13% of the total population.