East Ventures Completes First GP-Led Secondary Deal with Coller Capital

East Ventures, a prominent venture capital firm in Southeast Asia, has completed its first-ever general partner-led (GP-led) secondary transaction. The deal, supported by Coller Capital, a global specialist in secondary markets, provided liquidity to investors in East Ventures 5 L.P. (EV5), a fund focused on early-stage and seed investments in the region’s tech ecosystem.

The GP-led secondary transaction, underwritten by Coller Capital, was designed for East Ventures’Ventures’ fifth seed fund. This transaction has increased EV5’s total distributions-to-paid-in capital (DPI) to approximately 2x. 

The deal’s structure includes a profit participation component, enabling investors to secure returns while continuing to benefit from the portfolio’s future growth. EV5, which focuses on seed and early-stage investments in Southeast Asian technology companies, includes prominent companies like media startup IDN and warehouse service provider Waresix.

Through this transaction, East Ventures maintains its active role as a key shareholder in these companies, providing strategic guidance and support to their management teams. Co-founder and Managing Partner Willson Cuaca expressed satisfaction with the smooth execution of the deal, noting that it delivered liquidity to investors while preserving the firm’s strong partnerships with portfolio companies. He further emphasized that the portfolio aims to capitalize on Indonesia’sIndonesia’s growing digital economy.

Founded in 2009, East Ventures has been an early investor in some of Indonesia’sIndonesia’s top tech companies, including Tokopedia, Traveloka, and Ruangguru. The firm raised $27.5 million for its fifth seed fund in 2017 and launched its growth strategy, EV Growth, in 2018, closing its first fund at $250 million. 

Over the years, East Ventures has expanded its multi-stage funds, raising $835 million between 2022 and 2023. In 2023, the firm also launched a $30 million healthcare fund.

Coller Capital, a leading investor in secondary markets, facilitated the transaction and brings significant experience in executing large-scale GP-led deals. The firm has been involved in notable transactions, including underwriting the largest GP-led secondary deal in Asia for Hahn & Co’sCo’s SsangYong C&E, valued at $1.5 billion. 

Coller Capital’sCapital’s expertise in designing tailored liquidity solutions has been key in aligning the interests of both sponsors and limited partners. Peter Kim, Partner and Head of Asia at Coller Capital, shared enthusiasm about the collaboration, highlighting the growth potential in Southeast Asia.