East Ventures guarantees that there will be no difference in the investment allocation for startups in 2022 and 2023. This is US$550 million or IDR 8.5 trillion.
Source by Bisnis.com, JAKARTA - East Ventures has ensured that the funding allocation for startup investments next year will still be the same as the 2022 allocation of US$ 550 million or IDR 8.5 trillion (exchange rate of IDR 15,624).
East Ventures managing partner Roderick Purwana said the company is still focused on its latest funding round, which closed in early 2022 and was $550 million. As a result, the venture capital firm manages over $1 trillion in assets under management (AUM).
"Nothing," he said when confirmed regarding the difference in funding allocations this year and 2023, Tuesday (20/12/2022).
He explained that the award consists of $150 million for seed-stage funding and $400 million for growth-stage funding.
East Ventures also said that until next year and beyond, this venture capital will invest in startups that are in accordance with its investment philosophy, namely People and Potential Market for the initial stage. Meanwhile, East Ventures will focus on traction or sustainable growth for advanced startups.
Earlier, East Ventures was optimistic that startup growth would continue to be positive next year, with new startups still emerging despite the "tech winter."
Rodrick explained that one of the reasons East Ventures is optimistic is due to Indonesia's digital economy's growth. Based on data from Google, Temasek, and Bain & Company in the study entitled eConomy SEA 2022, the value of the digital economy in Indonesia is predicted to reach US$77 billion or the equivalent of Rp.1,197.8 trillion in 2022. This figure reflects a growth of 22 percent on an annual basis.
“When compared to Indonesia's GDP growth rate, Indonesia's GMV has doubled its growth rate. So our theme for 2023 remains bullish for startups and the digital economy,” Rodrick said recently. said.
Rodrick is optimistic that in 2023 startups will still grow and be present despite global challenges in the form of the Covid-19 pandemic and geopolitical changes in Ukraine.
Source by Bisnis.com, Author: Khadijah Shahnaz Fitra, Editor: Rio Sandy Pradana, translated by Team Aurora
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