Crisis management

Indo start-up and VCs face COVID-19 threat together

As more than $28 billion in start-up investment is expected to be lost due in 2020, Indonesian entrepreneurs and investors are getting on the front foot to tackle to pandemic.

As the number of cases and deaths from the new coronavirus increase, not everyone is just sitting and waiting for this all to be over. Jakarta-based seed investor East Ventures known for picking some of the country’s most exciting unicorns has mobilised its portfolio companies to deliver 100,000 COVID-19 test kits for the Indonesian public.

“In peacetime we use our skills for commercial benefit, but in times of war like this we repurpose them for the greater good,” East Ventures co-founder and managing partner Willson Cuaca told FinanceAsia in an interview. 

The venture capital group is leveraging its fundraising skills to solicit $600,000 in...

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