East Ventures, SV Investment announced the first close of its Southeast Asia - South Korea investment corridor fund

• Plans to invest in revenue-generating startups, typically at Series A to B stages
• Targeting high-potential tech startups in SEA & South Korea scaling across both regions

East Ventures, a pioneering and leading venture capital firm in Indonesia and Southeast Asia, and SV Investment, a publicly listed venture capital and private equity firm headquartered in Seoul, South Korea, have announced the first close of their joint fund, branded as the “East Ventures South Korea Fund in Partnership with SV Investment”.

In a joint statement, both parties stated that this first closing is backed by leading investors from Korea and Indonesia. With anchor capital from the Korea Development Bank, Korea’s state-owned development bank, and a strategic commitment from one of the world’s leading neobanks, the fund is committed to building on the track record and outsized performance delivered by both East Ventures and SV Investment to date, they added.

Collaboratively managed by the leading venture capital firms from both countries, the fund is ready to deploy capital. East Ventures and SV Investment are actively engaged in identifying high-potential tech startups in Southeast Asia and South Korea that are seeking to grow their businesses at scale across both regions. The fund expects to invest in revenue-generating startups, ideally raising Series A to B funding, with cheque sizes ranging from US$1million (RM4.4 million)to US$3 million (RM13.4 million) as the lead investor in high-conviction opportunities driven by exceptional founders.

“This first close marks a significant milestone in our shared commitment to fostering cross-border collaboration and investment between Southeast Asia and South Korea. We are deeply grateful for the anchor support from our early LPs and are excited about the opportunities ahead. Together with SV Investment, we are committed to forging a productive and healthy Southeast Asia for today, tomorrow, and for generations to come,” said Roderick Purwana, Managing Partner at East Ventures.

“The fund will play a pivotal role in strengthening ties and bridging the gap between Southeast Asia and South Korea. Together with East Ventures, we are strongly committed to generating valuable synergy for both regions, as South Korea will have increasing opportunities to expand into one of the fastest-growing and largest markets, while Southeast Asia will benefit from the adoption of advanced technology from South Korea and drive its economy to the next level,” said David Junghun Bang, Managing Partner at SV Investment.

The fund continues to engage with investors and is on track to achieve its final closing by mid-2025.

Founded in 2009 in Indonesia, East Ventures has raised nine funds focusing on Southeast Asia. The firm has invested in over 300 seed and growth-stage tech companies, recording strong financial returns and creating positive social and environmental impacts. In addition, it has maintained a top-tier VC position in Southeast Asia, being recognised as the most consistent top-performing fund globally by Preqin and the most active investor in Southeast Asia by various media outlets.

SV Investment invests abroad with overseas branches in Singapore, Boston in the United States, and Shanghai and Shenzhen in China. SV Investment has been one of the most active Korean independent venture capital firms in Southeast Asia.