left to right: Sang Han (Partner for East Ventures South Korea fund), Roderick Purwana (Managing Partner at East
Ventures), Wonho Hong (CEO at SV Investment), David Junghun Bang (Managing Partner at SV Investment).
Jakarta – East Ventures, a leading venture capital firm in Indonesia and Southeast Asia, and SV Investment, a prominent South Korean venture capital and private equity firm, have announced the initial close of their joint initiative, the "East Ventures South Korea Fund in partnership with SV Investment."
This first close attracted support from major investors in both Korea and Indonesia, including anchor investment from the Korea Development Bank (KDB), Korea’s state-owned bank, plus strategic backing from a leading global neobank. The fund aims to leverage the strong performance histories of both East Ventures and SV Investment.
Managed collaboratively by these prominent firms, the fund is set to invest in promising tech startups across Southeast Asia and South Korea. It focuses on revenue-generating companies seeking Series A to B funding, typically investing US$1 million to US$3 million as lead investors in promising ventures with visionary founders.
"This initial close is a significant step in our commitment to cross-border investment between Southeast Asia and South Korea," stated Roderick Purwana, Managing Partner at East Ventures. "With early support from our anchor LPs, we look forward to the immense opportunities ahead. Alongside SV Investment, we aim to promote a prosperous Southeast Asia for the present and future generations."
David Junghun Bang, Managing Partner at SV Investment, added, "The fund is essential in bridging Southeast Asia and South Korea, creating mutual benefits. South Korea will gain from access to one of the fastest-growing markets, while Southeast Asia will advance economically by integrating advanced South Korean technology."
The fund is expected to complete its final close by mid-2025, continuing to engage new investors.
East Ventures, established in Indonesia in 2009, has raised nine funds targeting Southeast Asia and invested in over 300 tech companies, achieving robust financial returns and creating significant social and environmental impact. The firm is celebrated as a top-tier VC in Southeast Asia and recognized globally for its consistent top performance by Preqin.
SV Investment operates internationally, with branches in Singapore, Boston, Shanghai, and Shenzhen, and is noted for its active investment in Southeast Asia.
