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Indonesia Sinar Mas-backed VC to launch second fund in 2021

Singapore-based EV Growth to seek opportunities in the Philippines and Malaysia

EV Growth has focused on companies in Indonesia, Vietnam, Thailand, and Singapore and will now also look for opportunities in the Philippines and Malaysia.   © Reuters

JAKARTA -- Singapore-based EV Growth, a joint venture capital company formed by Sinar Mas, East Ventures and Yahoo! Japan that focuses its investments on pioneering companies in Southeast Asia, plans to launch its second fund in the first quarter of 2021.

The new fund's target will likely be similar to EV Growth's $250 million first fund, which secured its final close in December 2019.

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