East Ventures remains optimistic about Indonesia’s digital economy prospect in 2023 despite the looming global economic turbulence.
“The GMV growth of Indonesia’s digital economy is roughly double its GDP growth. We believe that the growth is still very robust in a few years. Hence, East Ventures is still very much bullish towards our digital economy in 2023,” explains Roderick Purwana, Managing Partner at East Ventures.
According to the e-Conomy SEA 2022 report, Indonesia’s digital economy in 2022 will reach US$ 77 billion of GMV, and it is projected to reach US$ 130 billion by 2025 with a 19% CAGR. By 2030, it is expected to grow more than threefold US$ 220 billion to 360 billion.
Amidst external factors and global economic challenges, resilient startups and their founders continue to offer various innovative solutions that positively impact society. Next year, new startups are expected to emerge as East Ventures believes that great founders can create impactful wonders, especially for the nation’s digital economy.
“We believe that new startups will make their debut next year, no matter good or difficult conditions. It all goes back to the founders and market potential. Great founders can navigate through any season and seize opportunities in every situation. East Ventures will undoubtedly continue to invest in these startups next year as well,” said Roderick.
Being sector-agnostic has always been East Ventures’ core from the start. “This year, we have invested in multiple new innovations from founders and there have been several sustainability-related startups that we have doubled down as market penetration is now higher,” said Melisa Irene, Partner at East Ventures.
Throughout its journey in 2022, East Ventures has raised US$ 550 million of multi-stage funds and managed over US$ 1 billion worth of Asset Under Management (AUM) with more than US$ 86 billion of Gross Merchandise Value (GMV). We have also closed over 80 deals by Q3 2022.
Bringing success to tech startups and sustainable impact to the digital ecosystem in Southeast Asia has been our top priority since our inception. Looking forward, we are committed to not only providing funding to startups, but also embracing our founders in their value-creation journey to develop their businesses.
We are venturing into the year 2023 in a positive light. With the ongoing initiative of Indonesia PASTI BISA Maju Terus Pantang Mundur (IDPB MTPM), we want to create a platform for impacted tech talent in Indonesia to find available jobs in the tech industry through our job board, and to channel their entrepreneurial passion for a better digital economic landscape through our coaching and hackathon program. Visit IDPB website at www.indonesiapastibisa.com/mtpm for more information.
This article is a summary of multiple sources. Read the full article at Investor Daily Indonesia, BeritaSatu.com, Warta Ekonomi, Bisnis.com.