Temasek, one of the leading funds in Singapore, has decided to back East Ventures in securing more than seventy million dollars (USD 75 million) in investments.
East Ventures, a venture capital (VC) company headquartered in Jakarta, has attracted a number of prominent investors from all over the world. The goal of the funding is to provide support for start-up companies in Indonesia.
The VC spiked the interest of prominent figures in the tech and business world like Facebook co-founder Eduardo Saverin. Other important names include two of the largest conglomerates in Indonesia – Emtek and Sinar Mas.
According to East Ventures, investment partners were selected carefully, as they needed to have an interest in supporting the start-ups throughout the initial phase of their development. The main focus of the VC’s investment falls in the technology and digital sectors.
East Ventures bets on digital
Some of the most prominent past investments of the venture capital firm include Traveloka, an online travel bookings platform.
Digital businesses are becoming more popular, as a large percentage of the world population is now connected to the Internet. There is a tendency towards emphasizing on technological and digital developments in schools. These sectors are the future of business and economy.
Considering this, it is no surprise that East Ventures is betting on the young minds and aspiring entrepreneurs in the digital and technology sectors.
The possibilities for success and development in these niches is virtually infinite, as experts have claimed that digitalization is the fourth industrial revolution.
Indonesia and the whole of Southeast Asia are witnessing a serious rise in investments made in tech and digital companies. East Ventures is undoubtedly on the right track with their focus set on these industries.