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[Press Release]: EV HIVE, Indonesia’s largest co-working business, announces new management and US$0.8 million pre-series A funding

15-05-2017 05:17:48

JAKARTA, MONDAY, 15th MAY 2017 – EV HIVE, Indonesia’s largest VC-backed coworking space and community network, is today pleased to announce its new management team. Carlson Lau (Chief Executive Officer), Jason Lee (Chief Financial Officer) and Ethan Choi (Chief Strategy Officer) will take over the leadership at EV HIVE, to drive its regional expansion.

EV HIVE is also pleased to announce the acquisition of D.Lab in Menteng, Jakarta, bringing to four the total number of locations in Indonesia. EV HIVE is now the largest co-working space operator in the country, by size and number of locations. Besides D.Lab Menteng, EV HIVE has co-working spaces in Jakarta Smart City Kuningan, Maja Kebayoran Baru, and Breeze BSD.

EV HIVE’s vision is to provide technology start-ups, entrepreneurs, and businesses with affordable access to a network of workspaces, corporate services, as well as a strong, supportive community of founders. In connection with the onboarding of the new management team, EV HIVE is announcing the launch of a new “flexi-desk” service. Flexible coworking desks will be available at IDR 1,000,000 per person per month, across all its current locations.

EV HIVE is currently supported by two of Southeast Asia's leading venture capital investors – East Ventures and SMDV – as well as real estate developer Sinar Mas Land. Together with the existing investors, the new management team will invest an additional US$0.8 million as part of this pre-series A funding round.

Co-founder and managing director of East Ventures, Willson Cuaca, said: “EV Hive has served us well as East Ventures' community platform for over a year-and-a-half. We have engaged with over 10,000 start-up talents, run 120 biweekly events, and hosted countless gatherings with our close partners. We also work with industry stakeholders such as Amazon Web Services, Facebook, Google, SGInnovate and the VC community.”

“It is time for EV Hive to move to the next level, further consolidating its leadership position, managed by a passionate team that is dedicated full time to extending its value proposition further, within Indonesia, as well as to the region at large,” he added.

Carlson Lau, CEO of EV HIVE, said: “Our team continues to push hard. We intend to roll out seven locations by the end of the year to provide Indonesia’s largest, most convenient co-working network, allowing entrepreneurs to interact, grow and innovate within a tight-knit community. With the IDR 1,000,000 flexi-desk promotion and new locations, we will continue on our mission to provide entrepreneurs in Indonesia with open, affordable access to our space, services and community platform.” 

This pre-series A funding will be used to support EV HIVE’s rollout of planned locations. EV HIVE is currently also looking for a property partner to complement the Sinar Mas Land partnership.

About EV HIVE

EV HIVE is a co-working space in Indonesia, offering knowledge sharing and community building as its core value. Through events and workshops by our network of entrepreneurs and tech communities, we help local startups grow their business. More information about EV HIVE can be obtained at: http://evhive.co/

About East Ventures

East Ventures aims to bring success to ventures by providing early stage seed capital to promising start-ups. With a total of six offices in Jakarta, Tokyo, and San Francisco, East Ventures’ global team has invested in over 150 companies across Asia and the US. East Ventures’ portfolio of companies cover fields such as commerce, social, game, SAAS, and mobile services. More information about East Ventures can be obtained at: https://east.vc/

About SMDV

SMDV is a tech-focused venture capital fund that partners with entrepreneurs building exceptional technology companies, which aim to change the landscape in Indonesia and the region, by providing venture investments, strategic network and mentorship.

About Sinar Mas Land

Sinar Mas Land, part of Sinar Mas Group, is engaged in the property business through its operations in Indonesia, China, Malaysia and Singapore. Sinar Mas Land has long-term investments in major commercial buildings, hotels and resorts, and is involved in property development and leasing in Indonesia, China, Malaysia and Singapore. More information about Sina Mas Land can be obtained at: http://www.sinarmasland.com

 

EV HIVE Management Team

Carlson Lau, CEO

Carlson Lau joins as CEO of EV HIVE from PT Saratoga Investama Sedaya Tbk., where he was General Manager of Business Development, in charge of private equity investments. Previously, he was a private equity investor with Goldman Sachs Global Commodities Principal Investments (Singapore), Morgan Stanley Private Equity Asia (Hong Kong) and an investment banker in the investment banking division of Goldman Sachs (New York). 

Carlson graduated summa cum laude as a Tau Beta Pi Fellow from the Jerome Fisher Program in Management and Technology Program, Wharton School, University of Pennsylvania, with dual degrees in Systems Science Engineering and Economics, majoring in Finance.

 

Jason Lee, CFO

Jason Lee joins as the CFO of EV HIVE. Previously, Jason was the Chief Financial Controller at NIDA Rooms Limited, the largest branded hotel network in ASEAN.  He brings financial and operational experience from venture capital and start-ups in Asia as well as Latin America.  Jason started his career in investment banking at Deutsche Bank (New York) and Merrill Lynch (Singapore). Jason graduated cum laude from the Wharton School at the University of Pennsylvania.

 

Ethan Choi, CSO

Ethan Choi joins as the CSO of EV HIVE.  Previously, Ethan worked at Principia Management Group, an Indonesian PE fund, where he focused on private equity investments in Indonesia and fund raising activities.  Prior to Principia Management Group, Ethan worked at A.T. Kearney (South Korea) and Woori Investment & Securities (South Korea) in the Equity Research Division and Investment Banking Division. Ethan was also a professional music producer, who produced a debut album of Epik High currently under YG Entertainment that manages Big Bang, iKon, Winner and Psy.  

Ethan holds an M.B.A., majoring in Finance and Entrepreneurial Management, from the Wharton School, University of Pennsylvania and a B.S. in Finance from the University of Southern California.