The decade-old venture capital firm, which says it has more than $1 billion in assets under management, was an early backer of several large Indonesian startups, including GoTo and travel booking site Traveloka.

Of the newly raised fund, $150 million would be allocated to early-stage deals and $400 million to growth-stage deals, managing partner Willson Cuaca said in a statement.

The new fund's backers include SoftBank's internet subsidiary Z Holdings Corp, a longtime East Ventures investor.

(Reporting by Fanny Potkin, Editing by Louise Heavens)