East Ventures becomes Indonesia’s first venture capital firm to sign UN Principles for Responsible Investment

East Ventures, a pioneering and leading sector-agnostic venture capital firm in Indonesia, said Monday it has officially become a UN Principles for Responsible Investment (UN PRI) signatory as part of its commitment to creating responsible and sustainable investment and ownership decisions.

East Ventures said in a statement it becomes Indonesia’s first venture capital firm listed as a signatory; which further strengthens its belief that the implementation of the environmental, social, and governance (ESG) approach will serve as the sustainability-driven principle for all of the players. It is committed to taking the lead in identifying and supporting the relevant initiatives to drive more sustainable actions.

“East Ventures believes sustainability is and will continue to be the focus of everything that we do, and we have been integrating the ESG approach in our practices. We hope through the signing of the UN PRI we can further strengthen our commitment to achieving sustainable development and bringing more positive impact to the society,” said Avina Sugiarto, Venture Partner of East Ventures.

The PRI is the world’s leading proponent of responsible investment supported by the United Nation. Through the signing of UN PRI, East Ventures will further practice and implement the signatories’ contributions to develop a more sustainable global financial system, as well as to continue the application of six Principles for Responsible Investment to achieve broader objectives of the society.

Six Principles for Responsible Investment include: (1) to incorporate ESG issues into investment analysis and decision-making process, (2) to be the active owners and incorporate ESG issues into our ownership policies and practices, (3) to seek appropriate disclosure on ESG issues by the entities in which we invest, (4) to promote acceptance and implementation of the Principles within the investment industry, (5) to work together to enhance our effectiveness in implementing the Principles, and (6) to report on our activities and progress towards implementing the Principles.

East Ventures said it has and will continue to actively incorporate these principles in its daily operations and within its ecosystem. East Ventures has invested in several startups that are promoting sustainability for a greener environment: Aruna (Fisheries e-commerce), Xurya (Solar startup), Waste 4 Change (waste management); promoting health and well-being: Nalagenetics and Nusantics (Biotech), Mindtera, and Riliv (Mental health), and Homage (elder care); promoting quality education: Ruangguru, T-labs, Geniebook (Edutech), reducing food waste, Treedots (social commerce), and many others.

The social impact brought by the ecosystem are also aligned with the key issues of the G20 Presidency of Indonesia, including Global Health Architecture, Digital Transformation, and Sustainable Energy Transition. Moreover, the firm has also held and sponsored events that resonate with the same goal, such as regularly hosting the Women with Impact Forum as part of our commitment to gender mainstreaming strategy.

“We have and will continue to apply these principles into our practices, and make sure the implementation can also be reflected in our ecosystem in creating more positive impact to the society”, Avina said.

Founded in 2009, East Ventures has transformed into a holistic platform that provides multi-stage investment, including seed and growth for over 200 companies in Southeast Asia. An early believer in the startup ecosystem in Indonesia, it is the first investor of Indonesia’s unicorn companies, namely Tokopedia and Traveloka. Other notable companies in the portfolio include Ruangguru, Warung Pintar (acquired by SIRCLO), Kudo (acquired by Grab), Loket (acquired by Gojek), Tech in Asia, Xendit, IDN Media, MokaPOS (acquired by Gojek), ShopBack, KoinWorks, Waresix, and Sociolla.

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