East Ventures Completes First GP-Led Secondary Transaction with Coller Capital

East Ventures Partners with Coller Capital in New Venture

East Ventures, a prominent venture capital firm established in Indonesia, has announced a significant milestone in its journey. On January 20, 2025, the firm successfully completed its inaugural GP-led secondary transaction in collaboration with Coller Capital, a respected player in the secondary market for private assets. This innovative move is part of East Ventures' continued strategy to enhance liquidity options for its investors while maintaining a substantial stake in its investment portfolio.

The deal involved offering liquidity to limited partners from East Ventures 5 L.P. (EV5), achieving an impressive total distribution-to-paid-in capital ratio of around 2.0. This transaction highlights the firm’s successful track record in raising funds and generates an attractive liquidity event for its investors.

Willson Cuaca, co-founder and managing partner at East Ventures, expressed his enthusiasm regarding the new partnership. He stated, “We are thrilled to collaborate with Coller Capital in a swift and efficient process to devise a solution that not only provides our limited partners with an appealing liquidity step but also allows us to sustain our valuable partnership with the entrepreneurs and management teams of these companies.”

East Ventures, founded in 2009, focuses on investing in Southeast Asian tech startups during their early stages. The recently closed transaction showcases the firm’s strong belief in its technology investment ecosystem, consisting of top-performing businesses throughout Southeast Asia.

A Strong Portfolio

The portfolio of EV5 consists of several high-performing technology companies across Southeast Asia, including notable names like IDN and Waresix. Many of these businesses are also highlighted in East Ventures' subsequent funds.

The secondary transaction was structured to include a profit-sharing component, allowing EV5 to secure appealing returns for limited partners while still holding onto a share of the future growth trajectory of the portfolio’s assets. Additionally, East Ventures remains a significant active shareholder in these companies, acting as a strategic partner to management teams that will continue to benefit from the unique operational value added by the firm, its governance practices, and its broader Southeast Asian ecosystem.

Peter Kim, partner and head of Asia at Coller Capital, commented on the significance of this partnership, “We pride ourselves on partnering with East Ventures to execute this transaction in Southeast Asia, a market where we see tremendous growth potential.” Further emphasizing the relationship, he stated, “This transaction illustrates Coller’s expertise in delivering innovative and tailored liquidity solutions while establishing alignment with sponsors and their limited partners.”

Future Outlook

This operation reflects the evolving landscape of venture capital and secondary markets within Asia. With Coller Capital involved, the partnership exemplifies a strategic approach to addressing liquidity needs while also leveraging the growth potential within Southeast Asia, especially as the region's digital economy expands.

UBS Private Funds Group acted as an advisor to the transaction, ensuring a well-structured deal. Meanwhile, legal guidance was provided by Gibson, Dunn & Crutcher for East Ventures and Debevoise & Plimpton for Coller Capital.

In summary, East Ventures continues to establish its dominance in Southeast Asia’s venture capital space, being recognized not only as a top-performing fund globally but also as an active investor that prioritizes financial returns while creating positive social and environmental impacts. This latest endeavor with Coller Capital marks a transformative step in enhancing investors’ options, setting the stage for future growth and opportunities in the Southeast Asian market.