East Venturesa pioneering and leading venture capital firm in Indonesia and Southeast Asia, today announced that it has completed its first GP-led secondary transaction. Led by the global secondary company Coller Capital East Ventures offered liquidity to its investors in its East Ventures 5 LP (“EV5” or the “Fund”), increasing total distributions to the Fund’s paid-up capital (“DPI”) to approximately 2.0x follows the success of its predecessor funds and is a top-performing fund from the top quartile of the East Ventures platform, originally designed to invest in seed and early-stage rounds of Southeast Asian technology companies Coller Capital underwrote the entire transaction.
EV5’s portfolio is supported by renowned Southeast Asian technology companies such as IDN and waresix. Many of these companies continue to play important roles in East Ventures’ subsequent funds, and the secondary transaction underscores the firm’s continued belief in its ecosystem of top-performing emerging companies. The transaction was structured with a profit-sharing component so that EV5 could generate an attractive return for the limited partners while participating in the future growth of the portfolio. East Ventures remains a significant and active shareholder in the companies and an important partner to the management teams, who will continue to benefit from the company’s unique operational value, governance and Southeast Asia ecosystem.
“We are pleased to work with Coller Capital to develop a solution in a quick and efficient process that not only provides an attractive liquidity milestone for our limited partners, but also the opportunity to continue our valued partnership with the entrepreneurs and management teams in these companies. We believe the portfolio is well positioned to benefit from the long-term tailwinds of Indonesia’s growth story, particularly from the rise of the digital economy,” said Willson Cuaca, co-founder and managing partner at East Ventures.
“We are proud to partner with East Ventures to lead this transaction in Southeast Asia, an exciting market where we see great growth potential. Building on our long-standing collaboration, we quickly achieved East Ventures’ goals and provided investors with significant added value. “The transaction is an example of Coller’s expertise in providing innovative, tailored liquidity solutions and aligning with sponsors and their limited partners,” said Peter Kim, Partner and Head of Asia and RMB at Coller Capital.
The transaction is another example of the evolving venture capital and secondary market landscape in Asia.
UBS Private Funds Group advised on the transaction.
Gibson, Dunn & Crutcher served as legal counsel to East Ventures, while Debevoise & Plimpton advised Coller Capital.
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Information about Coller Capital
Coller Capital is a global leader in the secondary private wealth market and is known as a pioneer and innovator in this asset class. Founded in 1990, Coller provides investment and liquidity solutions to private investors around the world. The firm currently manages $36 billion(1) across private equity, private credit and other private market vehicles. With headquarters in London and offices in North America, Europe and Asia Pacific, our multinational team offers a truly global reach.
From its inception, Coller has focused exclusively on secondary investments and today has one of the largest dedicated investment teams in this asset class.
Coller’s Private Wealth Secondaries Solutions (PWSS) business offers perpetual funds to eligible private wealth investors worldwide.
(1) as of September 30, 2024
About East Ventures
East Ventures is a pioneering and leading sector-agnostic venture capital firm. East Ventures was founded in Indonesia in 2009 and has launched nine funds focused on Southeast Asia. The company has invested in more than 300 seed and growth-stage technology companies, achieving high financial returns and positive social and environmental impact. In addition, the company holds a leading position in venture capital in Southeast Asia and is recognized by Preqin as the world’s most consistently performing fund and by various media outlets as the most active investor in Southeast Asia.
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