You are on the right track if you are a startup founder looking to raise money for a business! Note that many venture capitalists in Indonesia are interested in investing in startup companies.
Due to its promising digital economy, Indonesia has the highest number of startups supported by technology among other Southeast Asian countries. According to Google, Temasek, and Bain & Company reports, Indonesia’s digital industry has grown rapidly from US$ 41 billion in 2019 to US$ 77 billion in 2022. The number of internet users in Indonesia has also increased significantly due to the pandemic, from 150 million users in 2019 to 203 million in 2022 – a huge market with limitless opportunities for technology-driven businesses.
With this extraordinary growth, it’s no wonder that venture capitalists in Indonesia and globally are very interested in investing in startup technology companies here. According to Crunchbase, by 2022, venture capital investment in Indonesia will include around 200 early-stage deals (under Series B) worth US$762 million and about 62 growth-stage deals (above Series B) worth US$3.5 billion, which still need to be completed, including unpublished agreements.
If you are raising funds for your startup in Indonesia, venture capital will greatly help you, so you should take advantage of the chance to present your idea to them. In this article, we will explain venture capital and share information about the 15 most active venture capitalists in Indonesia that you can try to seek funding.
If you want in-depth information about the world of venture capital in Indonesia, you can also download our free database, which contains 88 active venture capitalists in Indonesia.
What is venture capital?
Venture capital is a form of funding provided to startups or early-stage businesses in exchange for a stake (i.e., equity and sometimes a seat on the board of directors) in that company. Usually, investments are made in high-potential, high-risk companies to obtain a significant return on the investment.
Meanwhile, venture capital companies raise funds from various sources, such as institutional investors or wealthy individuals.Venture capital firms, which we’ll call VCs for short, are managed by a team of experienced investors and entrepreneurs responsible for identifying and selecting promising investment opportunities and providing support and guidance to the companies they invest in. They usually have multiple industry networks and contacts that can be leveraged to help their portfolio of companies succeed.
Each VC may specialize in a certain industry or sector and only focus on the business at a certain stage. Therefore, to maximize your success rate and make the most of your valuable time as a startup founder, you must research the right VC for your startup.
15 Most Active VC Investors in Indonesia
If you are raising funds for your startup, this might be a good starting point to learn more about Indonesia’s venture capital (VC) ecosystem. The following is a list of the 15 most active VCs in Indonesia, according to TechinAsia:
1. East Ventures
Founded in 2009, East Ventures is a pioneering venture capital company based in Indonesia that is not tied to any particular sector. They focus on early-stage investments in technology startups in Southeast Asia (Indonesia and Singapore) and Japan.
With a team of experienced investors and entrepreneurs, East Ventures has built a strong reputation for identifying and supporting promising startups in the early stages of their business journey. They have a deep understanding of the Southeast Asian market and provide funding and valuable support in strategy, product development, and recruitment.
Their portfolio includes successful companies such as Tokopedia, Traveloka, and Ruangguru.
2. AC Ventures
AC Ventures is a leading venture capital firm in Southeast Asia that invests in startups focused on Indonesia and ASEAN. Founded in 2019, the company specializes in early-stage investments in technology startups, focusing on sectors such as the consumer needs business, B2B, digital media, fintech, and the MSME industry. The company is committed to supporting the growth of the technology ecosystem in the region and helping entrepreneurs build world-class companies. In a short time, the company has become a major player in the Southeast Asian venture capital ecosystem.
3. Antler
Antler is a global early-stage venture capital firm that empowers and invests in the world’s best individuals building the companies that will define the future. With offices in 25 cities across six continents, including Austin, New York, London, Berlin, Stockholm, Bangalore, Jakarta, Singapore, Seoul, Tokyo, and Sydney, Antler aims to launch and grow startups that can meet opportunities and challenges anywhere. They are. Antler supports committed, ambitious, and resilient founders who will build a better future.
4. Y Combinator
As one of the incubators founded in 2005, Y Combinator is a well-known venture capitalist providing initial funding for many startups. Since its founding, the company has helped launch and grow some of the most successful startups in the world, including Airbnb, Dropbox, and Reddit.
Y Combinator provides early-stage startups with funding, mentoring, and resources, helping them develop products and prepare for market launch. Y Combinator has become a recognized name in the startup scene with a focus on innovation and disruption. It continues to be a driving force in shaping the future of technology and entrepreneurship.
Y Combinator is very active in Southeast Asia. The company’s portfolio in Southeast Asia includes many well-known names, such as Ajaib, Shipper, Aspire, BukuWarung, Xendit, and others.
5. Alpha JWC
Founded in 2016 as Indonesia’s first independent early-stage venture capital firm, Alpha JWC Ventures has become a leading early-stage and growth venture capital firm in Southeast Asia. The company’s strong position and leading venture capital status have been established over the years thanks to its on-the-ground team and global network.
With approximately US$650 million in assets under management currently, Alpha JWC Ventures manages the largest early-stage fund in Southeast Asia, supporting more than 70 active portfolio companies across the region.
6. MDI Ventures
MDI Ventures is a strategic venture capital company initially fully supported by Telkom Indonesia. Since then, the company has grown to manage the investments of various third-party LP investors.
The uniqueness of MDI Ventures lies in its ability to create access to new business opportunities and income by encouraging collaboration between the startups it invests in and major LP investors such as Telkom, BUMN companies, and other large companies in Indonesia.
MDI Ventures’ portfolio in Indonesia includes Kredivo, Koinworks, Qoala, Tada, Pitik, and others.
7. Insignia Ventures Partners
Insignia Ventures Partners is a technology venture capital firm that partners with founders dedicated to growing influential companies in Southeast Asia.
Insignia Ventures Partners takes an early-stage approach by partnering with founders from the seed stage to the growth stage and provides ongoing support as their company impacts millions of people in Southeast Asia and beyond. With a professional and experienced team in investment, operations, and good networking, this company provides founders with the necessities needed for sustainable business growth.
Since 2017, the company has invested in emerging technology companies across various industries, including “unicorn” companies such as Carro, Magic, GoTo, and Appier, as well as category leaders such as Fazz, Shipper, Tonik, and Flip.
8. BEENEXT
BEENEXT is an early-stage venture capital firm focused on investing in innovative and disruptive startups in Southeast Asia, India, Japan, and the United States. The company’s mission is to help entrepreneurs create impactful solutions that improve the lives of people worldwide and provide startups with seed and early-stage funding.
Founded in 2015 by experienced entrepreneur Teruhide Sato, BEENEXT has invested in over 200 companies, such as Mekari, Pasarpolis, and Ralali.com.
9. Sequoias
Sequoia helps brave founders build legendary companies from idea to IPO and beyond. They invest in different industries, stages, and in other regions. Founded in 1972, Sequoia has a history of supporting successful companies such as Apple, Google, Oracle, and Airbnb. Sequoia provides strategic guidance and support to the companies in its portfolio, helping them grow and succeed in the competitive startup landscape.
Sequoia has been actively investing in Southeast Asia since 2012, with a strong focus on Indonesia. The company has invested in many Indonesian unicorns, including Tokopedia, Go-Jek, and Traveloka.
10. Global Founders Capital
16 Global Founders Capital (GFC) is a multibillion-dollar venture capital based in Berlin, Germany, which invests in high-growth businesses from pre-seed to seed globally. GFC is a global venture capital firm that invests in startups at all stages of development. Founded in 2013, the company has an investment portfolio in sectors as diverse as fintech, e-commerce, healthcare, and SaaS. Its global portfolio includes many well-known names such as Canva, Slack, Lazada, and Revolut. GFC has a strong presence in Southeast Asia. The company has invested in many startups in Indonesia, such as Traveloka, Astro, and Fit Hub.
While venture capital fuels your business domestically, Transfez empowers your international ambitions. Transfez, a venture capital investment by East Ventures, makes transferring money abroad faster, easier, and more efficient. Whether you need to send funds for overseas operations or manage international payments, Transfez is your one-stop solution.
Download Transfez App
Transfez App can help you transfer money abroad more quickly and efficiently. Transfez Business can also help your business in making transactions abroad. For those of you who want to send money to relatives who are abroad because they are studying, working, or traveling, Transfez will be ready to help. This app is available on Android as well as iOS.
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