Tag Archive : Indonesian

/ Indonesian

AC Ventures, an Indonesia-focused venture capital firm, said it completed the first close of a planned $80 million technology investment fund.

The Jakarta-based company raised $56 million at the first close, according to its partners. The fund will invest in about 30 early-stage startups in areas including e-commerce and financial technology in the next three years.

AC Ventures was established in 2019 after two homegrown Indonesian VC firms — Agaeti Ventures and Convergence Ventures — merged to create scale. Its three founding partners are Pandu Sjahrir and Michael Soerijadji, previously general partners of Agaeti Ventures, and Adrian Li, the former founder of Convergence Ventures. Together, they have backed more than 100 tech ventures.

relates to Indonesia’s AC Ventures Targets New $80 Million Startup Fund

From left to right: Michael Soerijadj, Pandu Sjahrir and Adrian Li.

The firm will have a strategic alliance with Indies Capital, an alternative asset manager with more than $600 million of assets under management where Sjahrir serves

Read More

A month after completing Y Combinator’s accelerator program, BukuWarung, an financial tech startup that serves small businesses in Indonesia, announced it has raised new funding from a roster of high-profile investors, including partners of DST Global, Soma Capital and 20VC.

The amount of the funding was undisclosed, but a source told TechCrunch that it was between $10 million to $15 million. The new capital will be used to hire for BukuWarung’s technology team. TechCrunch first profiled BukuWarung in July.

Angel investors in the round include several high-profile founders and executives: finance technology platform Plaid’s co-founder William Hockey; Tinder co-founder Justin Mateen; Superhuman founder Rahul Vohra; Adobe chief product officer Scott Belsky; Clearbit chairman and startup advisor Josh Buckley; former Uber chief product officer Manik Gupta; Spotify’s former head of new markets in Asia Sriram Krishnan; 20VC founder Harry Stebbings; Nancy Xiao, an investor with Bond Capital; and Fast co-founder Allison

Read More