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Venture investor East Ventures raises USD550m for new Indonesia-focused funds

East Ventures, an Indonesia-focused venture capital firm, announced raising a total of USD550m in the final close of its two funds - the ninth fund for early-stage deals and its second growth-stage fund. East Ventures earlier said the firm will allocate USD400m to invest in growth-stage companies while utilising the rest for early-stage deals. East Ventures currently manages more than USD1bn in assets under management and has attracted USD6.7bn in follow-on funding for its portfolio companies. East Ventures managing partner Roderick Purwana said Indonesia is among the fastest-growing digital economies in South-east Asia due to the continuous support from stakeholders.

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