INDONESIA-FOCUSED venture capital (VC) firm, East Ventures has raised a new US$30 million healthcare fund.

The new fund, the VC firm’s first healthcare focused fund, will target Indonesian startups addressing the challenges and opportunities in the healthcare space in the island archipelago.

“Indonesia is one of South-east Asia’s most dynamic healthcare markets with enormous potential for innovation and growth. With our extensive experience in investing across sectors and stages, we believe this healthcare fund will play a pivotal role in fostering and catalysing healthcare innovation in Indonesia,” said Willson Cuaca, co-founder and managing partner at East Ventures.

The VC firm says it has 30 portfolio companies in the healthcare space, such as digital health startup Mesh Bio and Aevice Health, as well as precision gut health startup AMILI.

This new fund comes as other healthcare focused fund, HealthXCapital merged with Jungle Ventures back in August. The HealthXcapital team now leads healthcare investments at Jungle Ventures.