SoftBank-backed Indonesia fund East Ventures raises $550 mln

LY

10/05/2022 08:14

SINGAPORE, May 10 (Reuters) - Indonesia's East Ventures said
on Tuesday it had raised $550 million for a new fund focused on
Southeast Asian startups.
    The decade-old venture capital firm, which says it has more
than $1 billion in assets under management, was an early backer
of several large Indonesian startups, including GoTo  GOTO.JK 
and travel booking site Traveloka.
    Of the newly raised fund, $150 million would be allocated to
early-stage deals and $400 million to growth-stage deals,    
managing partner Willson Cuaca said in a statement.
    The new fund’s backers include SoftBank's internet
subsidiary Z Holdings Corp  4689.T , a longtime East Ventures
investor.

 (Reporting by Fanny Potkin, Editing by Louise Heavens)
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Messaging: miyoung.kim.thomsonreuters.com@reuters.net))