Southeast Asia’s leading venture capital firm, East Ventures, has launched its first Indonesia-focused healthcare fund worth US$30 million.
East Ventures Healthcare Fund aims to empower and support promising startups that address the unique challenges and opportunities in the country’s healthcare landscape.
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“Indonesia is one of Southeast Asia’s most dynamic healthcare markets with enormous potential for innovation and growth. With our extensive experience in investing across sectors and stages, we believe this healthcare fund will play a pivotal role in fostering and catalysing healthcare innovation in Indonesia,” said Willson Cuaca, Co-Founder and Managing Partner at East Ventures.
The VC firm is already an active investor in healthcare, with 30 companies in its portfolio, including Mesh Bio, AMILI, Aevice Health, Etana, and Diri Care. It has also invested in genomics startups, such as NalaGenetics and Nusantics.
During the COVID-19 crisis, the VC firm launched initiatives to strengthen the healthcare system in the archipelago. It includes the Indonesia PASTI Bisa (IDPB), a platform to support the government and private sector’s efforts in mitigating the negative impacts of COVID-19 in the nation.
East Ventures has also taken part in supporting the journey of genomics development in Indonesia. Started with the donation to the Biomedical & Genome Science Initiative (BGSi), an initiative of Indonesia’s Ministry of Health (Kemenkes) to provide precision medicine services for the community in August 2022 and provide sequencing needs in the form of reagents and consumables worth more than IDR 1 billion.
Also Read: East Ventures’s new multi-stage fund hits final close at US$550M
Early this month, East Ventures and Seoul-based SV Investment launched a new US$100 million fund. The East Ventures South Korea will open the investment corridor between the Southeast Asian and Korean venture ecosystems, including capital investment, knowledge transfer, and network sharing. The fund will invest in companies across biotech, healthcare, future mobility, green technology, and media & content.
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