East Ventures (EV) is collaborating with Tokyo’s based YJ Capital Inc. and SMDV –venture capital (VC) firm under Sinar Mas Group –, to set up EV Growth to grab growing digital companies in Indonesia. Trough this collaboration the three parties are targeting to invest US$150 million in the startups in the country.

Currently Japan only has one unicorn but Indonesia has four unicorns, therefore, there is a bright growth potential in the future. Singapore and Indonesia dominate, of which 71.2% of total funds flows to Singapore and 22.1% goes to Indonesia. However, of all the investments that flow, only eight per cent of the funding goes to series B funding. This shows a gap that hinders the acceleration of digital startup growth in Indonesia.