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Singapore's EV Growth maxes its fund at $250 million — looks to deploy more startups in Southeast Asia

To date, it has used 50 per cent of its total funds in 20 deals.


Singapore's EV Growth maxes its fund at $250 million — looks to deploy more startups in Southeast Asia

Venture Capital firm, EV Growth has closed another $50 million for its first round at a hard cap of $250 million.

The additional investments came from Singapore’s Temasek, an undisclosed sovereign wealth fund in Asia, as well as several Asia-based family offices.

Some of the startups under EV Growth's portfolio.
 

EV Growth spent 50 per cent of its fund into 20 deals80 per cent of its portfolio startups are Indonesian such as edutech Ruangguru, SME lender Koinworks, and beauty-tech startup Sociolla.

In March 2018, East Ventures, SMDV, and Yahoo! Japan Capital formed EV Growth as a joint venture to invest in startups in Indonesia and Southeast Asia without any inclination towards specific industries.

“The inflection point in South-east Asia is now and we are lucky to be here early... We plan to deploy US$325 million for South-east Asian startups combining active funds size, for both seed and growth stage,” said Wilson Cuaca, managing partner of EV Growth and co-founder of East Ventures.

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