# EV Growth

> EV Growth is a VC fund in Singapore backing FinTech, Financial Services and Internet. See 36 investments, check sizes, portfolio. Updated Aug 2026.

- Type: VC Fund
- Location: Singapore, Singapore
- Total investments: 36
- Last investment: May 2022
- Lead investor: 39%
- Last fund: Nov 2019
- Last updated: Aug 2026

EV Growth is a growth fund that specializes in providing growth capital to startups and businesses. EV Growth is a joint venture between East Ventures, SMDV, and YJ Capital that is focused on providing growth capital to startups in Indonesia and the rest of Southeast Asia with an agnostic industry focus. EV Growth has one of the largest networks ofcompanies and partners in the region and has invested in more than 16 portfolio companies since its first close in April 2018.EV Growth aims to bridge the gap in VC growth funding with the ultimate goal of creating a well-diversified portfolio of Southeast Asia early growth tech stage leaders. Leveraging Sinar Mas' deep business knowledge and combined with East Ventures' reputation as one of the leading VCs with the largest seed and Series A portfolios in the region as well as YJ Capital's long experience in the Internet industry, EV Growth has unrivaled access and insight into upcoming trends and opportunities in the industry

## Round sizes

| Stage | Round size |
| --- | --- |
| Series A | $11M–$30M |
| Series B | $12M–$45M |
| Series C | $12M–$360M |

## Investment focus

### Industry

| Industry | Investments | Share |
| --- | --- | --- |
| FinTech | 8 | 22% |
| Financial Services | 8 | 22% |
| Internet | 5 | 14% |
| E-Commerce | 5 | 14% |
| Finance | 3 | 8% |

73 industries tracked in total.

### Stage

| Stage | Investments | Share |
| --- | --- | --- |
| Series B | 11 | 31% |
| Series C | 7 | 19% |
| Series A | 6 | 17% |
| Series D | 3 | 8% |
| Venture - Series Unknown | 2 | 6% |

8 stages tracked in total.

### Country

| Country | Investments | Share |
| --- | --- | --- |
| Indonesia | 17 | 47% |
| Singapore | 4 | 11% |
| Japan | 1 | 3% |
| Vietnam | 1 | 3% |
| Thailand | 1 | 3% |

## Investments

| Company | Description | Amount | Stage | Date | Website |
| --- | --- | --- | --- | --- | --- |
| Xendit | Xendit is a Southeast Asian fintech company that provides payment infrastructure across Indonesia and the Philippines. Xendit processes payments, runs marketplaces, disburses payroll and loans, detects fraud, and helps other businesses grow exponentially. They serve these companies by providing a suite of world-class APIs and a dashboard UI thatsimplifies processes.Xendit was founded by Moses Lo, Tessa Wijaya, Bo Chen and Juan Gonzalez. | $300M | Series D | May 19, 2022 |  |
| Mekari | Mekari is a SaaS company based in Indonesia. Products include Talenta, Jurnal, Qontak, and KlikPajak. | $50M | Series E | May 13, 2022 |  |
| Fuse | Fuse is an insurance application that will allow you to do all insurance activities. One mobile application and a variety of interesting features, such as registering as a partner, comparing policies, and selecting the best policy to protect the future. Smart insurance innovation that is paperless. | $25M | Series B | Dec 13, 2021 |  |
| ALAMI | Alami is a licensed peer-to-peer lending platform focused on lending to micro, small, and medium-sized enterprises (MSMEs) through the principles of sharia finance. The company was founded in 2017 by Dima Djani, Harza Sandityo, and Bembi Juniar and is headquartered in Jakarta Raya, Indonesia. | $17.5M | Series A | Aug 12, 2021 |  |
| Fuse | Fuse is an insurance application that will allow you to do all insurance activities. One mobile application and a variety of interesting features, such as registering as a partner, comparing policies, and selecting the best policy to protect the future. Smart insurance innovation that is paperless. | $30M | Series B | Aug 09, 2021 |  |
| Carro | Carro is an online used car marketplace that offers a wide range of services for buying a car. | $360M | Series C | Jun 15, 2021 |  |
| Mekari | Mekari is a SaaS company based in Indonesia. Products include Talenta, Jurnal, Qontak, and KlikPajak. | $21M | Series D | May 17, 2021 |  |
| Stockbit | Stockbit adalah komunitas investasi di Indonesia. Stockbit memberi ruang bagi investor dan trader untuk berbagi ide, berita dan informasi keuangan lainya secara real-time. Pengguna bisa membuat profil dan mengikuti saham tertentu atau investor favorit untuk mendapatkan informasi berharga dan bertukar pikiran. | $35M | Series C | Jan 05, 2021 |  |
| Bibit.id | Bibit.id is a Robo-investing app developed to provide assistance on smart mutual fund investments. Bibit.id puts user's money into a diversified mutual fund portfolio intelligently and without hassle, while considering the factors such as age, income, and overall risk profile, enabling investors to get a tool that provides professionalfinancial planning service.Bibit.id works and monitors portfolios automatically to maintain optimal allocation. | $30M | Series A | Jan 05, 2021 |  |
| waresix | Waresix is a logistics platform for freight-forwarding, warehouse, and land transportation. It is a platform that matches unused warehouse space with users in need of such facility, looks to capitalize on the demand for flexible warehousing given the booming e-commerce market in the country. Waresix provides a solution for dynamic warehousingstrategy that allows customers, retailer, distributor, and manufacturer to quickly adapt to variable demand.Waresix is headquartered in Jakarta, Indonesia. | $100M | Series B | Sep 08, 2020 |  |

10 of 36 investments shown.

## Co-investors
- [SMDV](https://shizune.co/investors/profile/smdv) — VC Fund, 7 deals together
- [Golden Gate Ventures](https://shizune.co/investors/profile/golden-gate-ventures) — VC Fund, 5 deals together
- [Quona Capital](https://shizune.co/investors/profile/quona-capital-management) — VC Fund, 5 deals together
- [SBVA](https://shizune.co/investors/profile/softbank-ventures-korea) — VC Fund, 5 deals together
- [East Ventures](https://shizune.co/investors/profile/east-ventures) — VC Fund, 4 deals together
- [Emtek Group](https://shizune.co/investors/profile/emtek-group) — VC Fund, 4 deals together

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### Similar country
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## FAQ

### What does EV Growth invest in?

EV Growth invests primarily in FinTech, Financial Services and Internet startups, most often at Series B and Series C stage. Most of the 36 investments tracked by Shizune back companies in Indonesia. The Investment Focus section breaks down every industry, stage and country in the portfolio.

### What is EV Growth's check size?

EV Growth typically joins rounds of $11M–$30M at Series A, $12M–$45M at Series B and $12M–$360M at Series C. These ranges are 10th–90th percentile round sizes calculated from confirmed public funding rounds, so they are a realistic guide to the rounds EV Growth participates in.

### When did EV Growth last invest?

The most recent investment recorded for EV Growth closed in May 2022. Shizune tracks 36 investments in total for this profile, including round sizes, stages and portfolio companies, all sourced from confirmed public funding rounds and refreshed monthly.

### Is Shizune's investor data accurate?

Yes — every stat on this profile is calculated from confirmed public funding rounds monitored across hundreds of sources since 2020. This profile was last refreshed in Aug 2026 and is updated monthly. Spotted something off? Use the “Suggest an edit” link near the top of the page.

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