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East Ventures jumps on board as sponsor for Indonesia Open held by Badminton Association

East Ventures jumps on board as sponsor for Indonesia Open held by Badminton Association

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East Ventures, a sector-agnostic venture capital firm focused on startup investment in Indonesia, is taking on sponsorship of the Indonesia Open. The title of the tournament is East Ventures Indonesia Open 2022. The championship will be held at Istora Gelora Bung Karno, Senayan, Jakarta, 14 to 19 June 2022.

"We are proud to be able to support the badminton tournament which is held annually by the Badminton Association of Indonesia. Through the East Ventures Indonesia Open 2022 tournament, we hope to support the enthusiasm and development of badminton sports achievements in Indonesia, and we wish this international sport activity to run smoothly," said Roderick Purwana, managing partner of East Ventures.

According to Purwana, East Ventures continues to support the growth of Indonesia as a whole from various aspects and industries, including in the sports sector. This is accomplished by becoming the main sponsor of a badminton tournament titled East Ventures Indonesia Open 2022 to support the spirit and progress of badminton sports achievements in the country.

"As a venture capital firm, East Ventures believes that investing and playing badminton share the same philosophy and values that make us proud to actively support the biggest badminton tournament in the country,” said Purwana. He added that both badminton players and investors need intuition in making a move. It is also combined with strength, endurance, agility, speed, and thoroughness in achieving the best results. “The philosophy within badminton matches is in line and in harmony with East Ventures’ philosophy," said Purwana.

In May this year, East Ventures raised a total of US$550 million in the final close of its latest funds to focus on Indonesia and Southeast Asia startups. The firm will allocate US$150 million for early-stage deals, and US$400 millions for growth-stage deals.  According to the capital firm, it has experienced significant growth in its portfolio, with more than 200 portfolios from seed to growth stages. The firm is managing over US$1 billion assets under management, and has attracted US$6.7 billion in follow-on funding for the portfolio companies. Additionally, it has recorded more than US$86 billion of annualized GMV in aggregate by its portfolio. 

East Ventures also launched many strategic initiatives in supporting the overall progress and development of Indonesia, such as supporting the digital transformation through its annual East Ventures - Digital Competitiveness Index report, and engaging with a UN-supported network of investors. Additionally, in the usage of the funds East Venture has accumulated, the firm has also said that it would ensure the incorporation of sustainability aspects, by being the first venture capital in Indonesia to sign the Principle of Responsible Investment. 

Meanwhile, according to the Secretary General of PP PBSI Muhammad Fadil Imran, the involvement of East Ventures by becoming the main sponsor of the Indonesia Open 2022 tournament should be welcomed positively, and “gives a new colour and a new spirit to badminton in the country”.

"The presence of East Ventures as the main sponsor of the Indonesia Open 2022 shows that Indonesian badminton has always been an attraction for the business world, with its world achievements and direct involvement of East Ventures in developing the sport in the country. This is also in line with the vision of our mission is to bring Indonesian badminton not only as an outstanding sport but also as an industry," added Imran.

In the men's section, there will be world stars such as Viktor Axelsen, Anders Antonsen (Denmark), Kento Momota (Japan), Chou Tien Chen, Lee Yang, Wang Chi Lin (Chinese Taipei), Lakshya Sen (India), Kunlavut Vitidsan (Thailand), Ben Lane, Sean Vendy (England), Lee Zii Jia, Aaron Chia, Soh Wooi Yik (Malaysia), Loh Kean Yew (Singapore).

In the women's section, Carolina Marin (Spain), Akane Yamaguchi, Nozomi Okuhara (Japan), Chen Yu Fei, He Bing Jiao (China), An Se Young, (South Korea), Pusarla V. Sindhu, Saina Nehwal (India), Ratchanok Intanon, Pornpawee Chochuwong (Thailand), Mia Blichfeldt (Denmark), Zhang Beiwen (USA), Kirsty Gilmour (Scotland), etc will also be present.

Indonesian mainstay names, such as Anthony Sinisuka Ginting, Jonatan Christie, Shesar Hiren Rhustavito, Hendra Setiawan/Mohammad Ahsan, Fajar Alfian/Muhammad Rian Ardianto. In addition, there will be the world's number one double, Marcus Fernaldi Gideon/Kevin Sanjaya Sukamuljo who will be ready to appear in action again.

"In addition, the return of the audience to the arena along with the slowing down of the COVID-19 pandemic will certainly add to the liveliness of the tournament. The longing of the audience will also be cured. The enthusiasm and spirit of badminton lovers in supporting their favorite players will certainly restore the atmosphere of Istora GBK which is always excited, lively, and full of excitement, an atmosphere that has never existed anywhere else. This atmosphere is what world players who come to Jakarta will always miss," added Imran.

(Photo courtesy: 123rf)

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