EV Growth scales up fund target to over $200m on huge investor appetite

REUTERS/Beawiharta

The EV Growth Fund – a joint venture between Sinar Mas, East Ventures and Yahoo! Japan – has exceeded its $150-million fundraising target as investors hungry for returns loosen their purse strings. The fund is focused on providing growth capital to startups in Indonesia and the rest of Southeast Asia.

With the fund being oversubscribed due to significant demand from existing and new investors, EV Growth has revised its target and plans to raise over $200 million, making it among the largest such vehicles in the region, industry executives aware of the development told DEALSTREETASIA.

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