Forward thinking founders of Chinese breakout companies and Chinese VCs have been exploring and expanding their efforts in the Southeast Asia market. Indonesia, representing almost 40% of the economic output of Southeast Asia is attracting fresh investments and “SEA turtles”, the Southeast Asian returnees who had studied in top universities overseas. Some breakout companies founded by SEA turtles include Go-Jek, Grab, and Traveloka.

Chinese tech giants have tapped into the Southeast Asian market these years. Alibaba invested US$ 1 billion in Singapore-based e-commerce startup Lazada in 2016 and Tencent invested US$ 1.2 billion to Indonesia-based logistics and payment startup Go-Jek last month.

A newly established Silicon Valley fund is following the steps of Chinese money and is dedicated to co-founding and investing in early-stage companies capitalizing on the rapid growth of private consumption in the Indonesian market.

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Eva Yoo

Eva Yoo is Shanghai-based tech writer. Reach her at evayoo@technode.com