East Ventures South Korea fund in partnership with SV Investment
East Ventures


6 October 2023

Press Release

East Ventures and SV Investment announced the US$100 million dedicated fund for Southeast Asia – South Korea investment corridor

East Ventures, a pioneering and leading venture capital firm in Indonesia and Southeast Asia, and SV Investment, a venture capital & private equity firm headquartered in Seoul, Korea, on 5 October 2023, announced the “East Ventures South Korea fund in partnership with SV Investment” with a target of US$100 million. 

This fund aims to open the investment corridor between the Southeast Asian and Korean venture ecosystem, including capital investment, knowledge transfer, and network sharing. The fund will be invested in the most promising startups and companies across several key sectors or industries, which include biotech & healthcare, future mobility, green technology, media & content, and others. 

“We are thrilled to mark a significant milestone with SV Investment. This fund represents a powerful synergy between East Ventures’ deep expertise in the Indonesian and Southeast Asia startup ecosystem and SV Investment’s rich experience in the South Korean market. Together, we aim to unlock the immense potential of the Southeast Asia-South Korea corridor, nurturing and accelerating the growth of startups within the region. This strategic partnership serves as a testament to our commitment to fostering more innovations and forging a healthy and productive Southeast Asia for today, tomorrow, and more generations to come,” said Roderick Purwana, Managing Partner at East Ventures.

The partnership between Indonesia and Korea holds immense promise for collaboration in the tech industry and startup ecosystem. With both countries’ vibrant economies and shared commitment to innovation, are poised to foster a dynamic exchange of knowledge, resources, and expertise. Indonesia offers a burgeoning market and a pool of young, tech-savvy talent, while Korea boasts a track record of technological excellence and global reach. By joining forces, Indonesia and Korea can catalyze the growth of startups, enhance technological capabilities, and tap into the vast opportunities within Southeast Asia and beyond. 

The East Ventures South Korea fund in partnership with SV Investment will be managed collaboratively by leading venture capital (VC) firms from both countries, aims to facilitate Korean tech startups and companies in attracting foreign capital, promoting overseas venture company IPOs, and exchanging valuable expertise and know-how between the ecosystem.

In addition, within the Southeast Asian venture ecosystem, it is expected to provide investors with an opportunity to preemptively invest in Southeast Asian technology companies that are likely to grow in the process of evolving from consumer platform-based services to technology-intensive services. 

David Junghun Bang, Managing Partner at SV Investment, said, “At SV Investment, we are seeing a great potential in Southeast Asia, and believe Indonesia is leading the growth as the largest economy in the region. In that, we are very happy to collaborate with East Ventures, a leading venture capital firm in Indonesia and Southeast Asia. This collaboration will open up a gate for both Korean and Southeast Asian tech startups who have been pushing hard to scale up in the global market, and represent our commitments to support them continuously. I am confident that SV Investment’s proven investment experiences in the tech industry and East Ventures’ broad portfolio and network, will lead to positive changes in both Korean and Southeast Asian venture ecosystems.”

Founded in 2009 in Indonesia, East Ventures has invested in over 300 seed and growth-stage tech companies and has recorded strong financial returns and created positive social and environmental impacts. East Ventures is the first investor of Indonesia’s largest e-commerce platform Tokopedia and the largest travel platform Traveloka, as well as an early investor of a a number of the largest companies in Southeast Asia, such as Waresix, Xendit, Sociolla, and ShopBack. In addition, it has maintained a top-tier VC position in Southeast Asia, being recognized as the most consistent top-performing fund and the most active investor in Southeast Asia by Preqin and various media.

SV Investment invests abroad with overseas branches in Singapore, Boston in the United States, Shanghai, and Shenzhen in China. SV Investment has been one of the most active Korean independent venture capital in Southeast Asia.