Indonesia’s East Ventures partners SGInnovate to create joint startup launchpad

Indonesia-based VC firm East Ventures has teamed up with Singapore’s SGInnovate to create a joint landing pad for startups from both countries, according to an announcement.

East Ventures’ managed co-working space EV Hive will be connected with BASH, a startup space operated by SGInnovate. On top of that, startups in Series B stage and above can seek support from EDBI, the global investment arm of the Singapore Economic Development Board.

The partnership will allow members of both institutions to “tap into networks, spaces and services” of each other, in Singapore and Indonesia. The program is expected to further ease regional expansion and open an easier collaboration between startups in the regions.

Wilson Cuaca, managing partner, East Ventures, stated that the Singapore partners are supporting the firms in EV Hive at different stages of their development.

“When growth stage companies from Indonesia are ready to expand internationally to global markets, they can leverage EDBI’s networks to access global partners and business opportunities. Larger companies can seek help from the Singapore Economic Development Board for their regional expansion plans,” said Cuaca.

EV Hive currently manages two locations in Indonesia, with a total area of more than 600 square meters. The two offices house and facilitate 36 startups, six of them originally based in Singapore. EV Hive is expanding to more locations and will build up to seven offices by the end of the year.

East Ventures, one of Indonesia’s most active early-stage VC firms, has been investing since 2010. The company has offices in Jakarta, Singapore, and Tokyo.

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.