East Ventures and SV Investment announce $100M Fund to Drive Tech Startups Across SE Asia and Korea

East Ventures, a venture capital firm in Indonesia and Southeast Asia, and South Korea-based SV Investment have announced the first close of their joint fund, East Ventures South Korea Fund, in partnership with SV Investment. The fund, launched in October 2023 supports tech startups across Southeast Asia and Korea.

The $100 million fund secured backing from key investors in Korea and Indonesia, though the amount raised in the first close was not disclosed. It is expected to reach its final close by mid-2025. SV Investment, a publicly listed venture capital and private equity firm, and East Ventures, known for its active role in Southeast Asia’s startup ecosystem, aim to strengthen cross-border investment opportunities between the two regions.

East Ventures and SV Investment’s newly launched fund, East Ventures South Korea Fund, in partnership with SV Investment, is a collaboration to bridge the tech startup ecosystems in Southeast Asia and South Korea. 

The fund has already secured initial capital backed by leading investors from Korea and Indonesia. Its anchor support comes from the Korea Development Bank (KDB), South Korea’s state-owned development institution. Additionally, the fund enjoys strategic backing from a globally recognized neobank. 

The fund, launched in October 2023, is designed to invest in revenue-generating tech startups across key sectors, such as biotech, healthcare, future mobility, green technology, and media & content. Targeting Series A to B startups, it intends to deploy investments in the range of $1 million to $3 million per company. The fund will act as a lead investor, focusing on high-conviction opportunities led by exceptional founders with strong growth potential across both regions.

“We are deeply grateful for the anchor support from our early limited partners and are excited about the opportunities ahead,” said Roderick Purwana, Managing Partner at East Ventures. “This first close marks a significant milestone in our shared commitment to fostering cross-border collaboration and investment between Southeast Asia and South Korea. Together with SV Investment, we are committed to building a productive and sustainable future for the region,” he added.

SV Investment’s Managing Partner, David Junghun Bang, emphasized the fund’s role in strengthening ties between the two regions. “We are strongly committed to generating valuable synergy, with South Korea expanding into one of the fastest-growing markets and Southeast Asia benefiting from the adoption of advanced technologies from Korea,” he explained. 

Founded in 2009, East Ventures is a prominent Indonesian venture capital firm focused on Southeast Asia. The firm has raised nine funds, invested in over 300 seed—and growth-stage tech companies, and has consistently been recognized as one of the top-performing funds in the region. 

East Ventures is known for its strong financial returns and positive social and environmental impacts. Its recent funds include the $250 million Growth Plus Fund and a $30 million Healthcare Fund to support healthcare solutions in Indonesia. Additionally, various media outlets have recognized the firm as the most active investor in Southeast Asia.

SV Investment, established in South Korea, has expanded its reach with international branches in Singapore, Boston, Shanghai, and Shenzhen. It has become one of the most active independent venture capital firms from Korea in Southeast Asia, managing over $1.5 billion in assets across its venture capital and private equity funds. The firm continues to explore high-potential opportunities in Southeast Asia and South Korea, with its recent investment in Maka Motors, a company backed by East Ventures, underscoring the growing synergy between the two firms.