EV Growth is a joint venture between East Ventures, SMDV, and YJ Capital Inc. and was launched in March 2018. It aims to provide growth capital to industry-focused startups in Indonesia and the rest of Southeast Asia.

EV Growth is led by three partners representing each original venture – Willson Cuaca from East Ventures, Roderick Purwana from SMDV, and Shinichiro Hori from YJ Capital Inc.

So far, EV Growth has backed startups from different sectors, including beauty tech Sociolla, multi-platform online media company IDN Media, mobile point-of-sale player Moka, micro-retail tech Warung Pintar, and edutech, Ruangguru. 40 per cent of its total fund has gone to 12 deals thus far, with 90 per cent of them are Indonesian startups.