Many of you, after reading our Singapore VC list, are asking whether we could create the same for more countries, notably Indonesia.

So here we go 😉

According to the data from Alpha JWC in 2018, the total value of Indonesian venture deals reached US$ 5 billion, an increase of 40% from the number of deals in August 2017 amounting to US$ 3 billion. Here is a list of active VCs in Indonesia…

Many of you, after reading our Singapore VC list, are asking whether we could create the same for more countries, notably Indonesia.

So here we go 😉

According to the data from Alpha JWC in 2018, the total value of Indonesian venture deals reached US$ 5 billion, an increase of 40% from the number of deals in August 2017 amounting to US$ 3 billion. Here is a list of active VCs in Indonesia:

Alpha JWC Ventures (Indonesia)

Summary: Alpha JWC Ventures was founded in 2015 and its head office is located in Jakarta. Geographical coverage is in the Asia Pacific & Southeast Asia 

Main areas of focus: sector agnostic, focusing on early to a growth-stage technology company in Indonesia 

Latest Deals (2019): has invested in 41 startups, Goola (traditional Indonesian beverage), Bobobox Indonesia (capsule hotel), Ajaib (online investment platform), Target Media Nusantara (digital media network for china), Nusantara Technology (digital service provider for SME)     

 

Agaeti Ventures (Indonesia)

Summary: Agaeti Ventures was founded in 2018 and its geographical coverage is in the Asia Pacific & Southeast Asia 

Main areas of focus: focusing on pre-series A and series A technology-based startups with a primary focus on Indonesia or Southeast Asia

Latest Deals (2019): has invested in 6 startups, Ride Jakarta (indoor cycling studio), Bobobox Indonesia (capsule hotel), Kargo Technologies (freight logistics marketplace), Fore Coffee (online coffee shop), Warung Pintar (micro-retail technology company), Wahyoo (digitalization of small local stalls in Indonesia)

 

ATM Capital (China)

Summary: ATM Capital was founded in 2017 and its geographical coverage is in the Asia Pacific & Southeast Asia

Main areas of focus: focusing on early to growth-stage startups in Southeast Asia

Latest Deals (2019): has invested in 6 startups, Andalin (digital cross border shipping), Kargo Technologies (freight logistics marketplace), theAsianparent (an online magazine for parents), Tickled Media (online media for women in Asia), LifePal (online health & life insurance)

 

Central Capital Ventura (Indonesia)

Summary: Central Capital Ventura was founded in 2017 and its head office is located in Jakarta. Geographical coverage is in the Asia Pacific & Southeast Asia

Main areas of focus: focusing on early-stage financial technology startups, primarily in Indonesia 

Latest Deals (2019): has invested in 7 startups, Pomona (omnichannel to track sales conversion), 6Estates (AI data insights for business problems)   

 

Convergence (Indonesia)

Summary: Convergence was founded in 2013 and its geographical coverage is in the Asia Pacific & Southeast Asia

Main areas of focus: focusing on early-stage startups in Indonesia 

Latest Deals (2019): has invested in 30 startups, Logisly (online forwarding by truck), Stockbit (social networking platform for stock investors), Dekoruma.com (end to end home & living platform), Moka (mobile point of sales for SME), KoinWorks (P2P lending), Sorabel (fashion e-commerce for woman), Gowork (coworking space) 

 

Discovery Nusantara Capital (Indonesia)

Summary: Discovery Nusantara Capital head office is located in Indonesia. Geographical coverage is in Southeast Asia

Main areas of focus: focusing on early-stage internet startups in Indonesia 

Latest Deals (2018): has invested in 7 startups, Naobun Project (intellectual property management agency), Ranida Games (indie game developer), SemiSoft (game developers), Tamatem Inc (game developers for Arabic market), Omni VR (virtual reality-based game developers) 

 

East Ventures (Singapore)

Summary: East Ventures was founded in 2010 and its geographical coverage is in Southeast Asia

Main areas of focus: focusing on early-stage startups with a primary focus in Southeast Asia and Japan. 

Latest Deals (2019): has invested in 203 startups, Kedai Sayur (technology-supported micro vegetable merchants), Ride Jakarta (indoor cycling studio), 99.co (online property listings), Mekari (technical & technology assistance for SME), AllSome (e-commerce fulfillment & logistics solution), Feedloop (digital branding agency), Advotics (offline to offline analytics platform), 7.5 Degree (Chinese language economic media), Wahyoo (digitalization of small local stalls in Indonesia)

 

Emtek Group (Indonesia)

Summary: Everhaus was founded in 1983 and its geographical coverage is in the Asia Pacific & Southeast Asia

Main areas of focus: focusing on early to growth-stage startups with a primary focus on technology companies in Indonesia 

Latest Deals (2018-2019): has invested in 12 startups, Bukalapak (e-commerce), Qareer Group Asia (job marketplace platform)

 

Everhaus (Indonesia)

Summary: Everhaus was founded in 2017 and its geographical coverage is in the Asia Pacific & Southeast Asia

Main areas of focus: focusing on early-stage startups with a primary focus on technology companies in Indonesia 

Latest Deals (2019): has invested in 15 startups, Trukita (freight and truck-based forward marketplace),Outpost (coworking space), Doogether (online sport events booking platform), Bobobox Indonesia  (capsule hotel), Tado (interactive content platform), Pixibo (fashion personalization platform), Pomona (omnichannel to track sales conversion), EdenFarm (B2B e-commerce for agricultural products)

 

Finch Capital (Netherlands)

Summary: Finch Capital was founded in 2013 and its geographical coverage is in Europe & Southeast Asia

Main areas of focus: focusing on early-stage startups with a primary focus on the FinTech sector

Latest Deals (2019): has invested in 31 startups, Fixico (end to end car repair platform), Symmertical.ai (financial service as a code architecture), Twisto (daily payments and instant financing), TaxScouts (online tax preparation), Jojonomic (personal finance assistance)

 

Genesia Ventures (Japan)

Summary: Genesia Ventures was founded in 2016 and its geographical coverage is in the Asia Pacific & Southeast Asia

Main areas of focus: focusing on early seed and early stage in technology-based startups

Latest Deals (2019): has invested in 22 startups, Logisly (online forwarding by truck), MobilKamu (end to end solution for car buyers), Bobobox Indonesia (capsule hotel), KAMEREO (sourcing & purchasing platform for HORECA business), Qoala (insurtech)

 

Global Digital Prima (Indonesia)

Summary: Global Digital Prima was founded in 2010 and its geographical coverage is in the Asia Pacific & Southeast Asia

Main areas of focus: focusing on early to growth-stage startups in the consumer internet industry 

Latest Deals (2019): has invested in 16 startups, SweetEscape (photography service marketplace), Prosa.Ai (AI powered language and speech processing for Bahasa Indonesia), Datasaur (AI powered data labeling platform), 6Estates (AI data insights for business problems), Qlue (social media application for smart city implementations), Dekoruma.com (end to end home & living platform), Tinkerlust (fashion e-commerce for woman)

 

Golden Gate Ventures (Singapore)

Summary: Golden Gate Ventures was founded in 2011 and its geographical coverage is in the Asia Pacific & Southeast Asia

Main areas of focus: focusing on early-stage startups in the consumer internet industry 

Latest Deals (2019): has invested in 76 startups, Ritase (SaaS & marketplace for truck forwarding), TaniHub (B2B marketplace for agricultural products), Qoala (insurtech), Jojonomic (personal finance assistance), Sampingan (freelancers service marketplace), SpeQtral (quantum technology-based communication and cybersecurity system), Carro (automotive marketplace), ZUZU Hospitality Solutions (software service solutions for hotels), Shohoz (online travel & ride-sharing service)

 

Gobi Partners (China)

Summary: Gobi Partners was founded in 2002 and its geographical coverage is in the Asia Pacific & Southeast Asia

Main areas of focus: focusing on early to late-stage technology startups, with a primary focus on China

Latest Deals (2019): has invested in 126 startups, Airlift Technologies (bus booking application), Easy Parcel (online parcel delivery), Zhiketong Technology (direct sales marketing for hotels & entertainment) , Megarobo (AI & IoT based solutions), Chuangkit (online graphic design tool), Maria Health (healthcare marketplace), DOOgether (online sport events booking platform), Zmjiudian (online hotel recommendation & booking), Airwallex (cross border transactions for business), Aisi International (digital advertising for business)

 

Indogen Capital (Indonesia)

Summary: Indogen Capital was founded in 2016 and its geographical coverage is in the Asia Pacific & Southeast Asia

Main areas of focus: focusing on post-seed stage up to series A startups 

Latest Deals (2018): has invested in 12 startups, Sonicboom (offline data sharing via sound), Gowork (coworking space), Travelio (home rental marketplace), Kofera (machine learning-based digital advertising agency),Venteny Inc (human resource & financial technology solutions), Fastwork (professional freelancing platform), Carsome (marketplace for used car), FundPark (P2P lending)

 

Insignia Ventures (Singapore)

Summary: Insignia Ventures was founded in 2017 and its head office is located in Singapore. Geographical coverage is in the Asia Pacific & Southeast Asia

Main areas of focus: focusing on early-stage technology startups, with a primary focus on Southeast Asia 

Latest Deals (2019): has invested in 30 startups, Ritase (SaaS & marketplace for truck forwarding), Fore Coffee (online coffee shop), Tado (interactive content platform), Ajaib (online investment platform), AwanTunai (P2P lending), Edmicro (education technology), Igloohome (digital security locks), YouTrip (multi-currency mobile wallet), YukStay (property technology), Carro (automotive marketplace), Finhay (online wealth management platform), Propzy (end to end real estate platform)

 

Intudo Ventures (Indonesia)

Summary: Intudo Ventures was founded in 2017 and its head office is located in Jakarta. Geographical coverage is in the Asia Pacific & Southeast Asia

Main areas of focus: focusing on seed to early-stage startups, with a primary focus on Indonesia

Latest Deals (2019): has invested in 9 startups, Ride Jakarta (indoor cycling studio), TaniHub (B2B marketplace for agricultural products), Kargo Technologies (freight logistics marketplace)

 

Jungle Ventures (Singapore)

Summary: Jungle Ventures was founded in 2012 and its geographical coverage is in the Asia Pacific & Southeast Asia

Main areas of focus: focusing on early-stage technology startups 

Latest Deals (2019): has invested in 67 startups, KiotViet (point of sales software), Redoorz (budget accommodations marketplace), Moglix (industrial tools and equipment e-commerce), Waresix (end to end online logistic platform), SweetEscape (photography service marketplace), Tookitaki (software solutions for compliance), FinAccel (online financial service)

 

Kejora Ventures (Indonesia)

Summary: Kejora Ventures was founded in 2013 and its geographical coverage is in the Asia Pacific & Southeast Asia

Main areas of focus: focusing on early-stage technology and high growth market vertical startups

Latest Deals (2019): has invested in 19 startups, Sorabel (fashion e-commerce for women), Sicepat Express (delivery service for e-commerce), Etobee (logistic service marketplace) 

 

Lima Ventura (Indonesia)

Summary: Lima Ventura was founded in 2012 and its head office is located in Jakarta

Main areas of focus: focusing on early-stage startups

Latest Deals: has invested in 3 startups, Voyej (leather-based goods), Velospace (interior design service), Gorry (healthy catering service) 

 

Mandiri Capital Indonesia (Indonesia)

Summary: Mandiri Capital Indonesia was founded in 2016 and its geographical coverage is in the Asia Pacific & Southeast Asia

Main areas of focus: focusing on early-stage startups

Latest Deals (2019): has invested in 10 startups, Mekari (technical & technology assistance for SME) and KoinWorks (P2P lending)

 

MDI Ventures (Indonesia)

Summary: MDI Ventures was founded in 2015 and its geographical coverage is in the Asia Pacific & Southeast Asia

Main areas of focus: focusing on early-stage startups

Latest Deals (2019): has invested in 36 startups, QFPay (mobile payment system), FinAccel (online financial service), CXA Group (AI powered health and wellness ecosystem), Qlue (social media application for smart city implementations), Kata.ai (chatbot service), Qoala (insurtech)

ecosystem), Qlue (social media application for smart city implementations), Kata.ai (chatbot service), Qoala (insurtech)

 

Monk’s Hill Ventures (Singapore)

Summary: Monk’s Hill Ventures was founded in 2014 and its geographical coverage is in the Asia Pacific & Southeast Asia

Main areas of focus: focusing on post-seed stage technology startups in Southeast Asia

Latest Deals (2019): has invested in 26 startups, Glints (online talent recruitment and career discovery platform), Saleswhale (AI driven sales assistant), Jio Health (full stack healthcare provider), iVideoSmart (online video platform), Elsa (online English language speech assistant)

 

Patamar Capital (Singapore)

Summary: Patamar Capital was founded in 2011 and its geographical coverage is in the Asia Pacific & Southeast Asia

Main areas of focus: focusing on early-stage  startups serving the “mass market” in South and Southeast Asia 

Latest Deals (2019): has invested in 26 startups, Supahands (data training for machine learning & artificial intelligence company), Kinara Capital (lending for SME), Big Tree Farms (supply chain management company for farmers), Kalibrr (recruiting platform)

 

Prasetia Dwidharma (Indonesia)

Summary: Prasetia Dwidharma was founded in 2008 and its geographical coverage is in the Asia Pacific & Southeast Asia

Main areas of focus: focusing on early-stage technology startups, with a primary focus on Southeast Asia 

Latest Deals (2019): has invested in 21 startups, Mtarget (marketing automation software), Redkendi (B2B catering service provider), Ampotech (data collection and analysis of electricity usage), Doogether (online sport events booking platform), Ekrut (algorithm based headhunting), Tado (interactive content platform), Dropee (B2B e-commerce solutions), Pixibo (fashion personalization platform)

 

SeedPlus (Singapore)

Summary: SeedPlus was founded in 2016 and its geographical coverage is in the Asia Pacific & Southeast Asia

Main areas of focus: focusing on early to growth-stage startups 

Latest Deals (2019): has invested in 21 startups, Logisly (online forwarding by truck), HOMI Smarthome (smart home service), Travelstop (online travel marketplace), Lapasar.com (online supply chain solution), Qoala (insurtech), BlockPunk (blockchain-powered entertainment), Porter (end to end logistic solution)

 

Sequoia Capital (America)

Summary: Sequoia Capital was founded in 1972 and its head office is in Menlo Park, California. Geographical coverage is in America, Israel, China, India, & Southeast Asia

Main areas of focus: focusing on early to late-stage startups in energy, financial, enterprise, healthcare, internet, and mobile industry 

Latest Deals (2019): has invested in 1254 startups, Trusting Social (big data credit scoring), Kopi Kenangan (online coffee shop), Kargo Technologies (freight logistics marketplace), Online Pajak (online tax service), Alto Solutions (investment platform), Ethos Life (insurtech focusing on life insurance), Attentive (mobile messaging platform for e-commerce), SignalWire (cloud-based communication platform), Truework (human resource software)

 

SMDV (Indonesia)

Summary: SMDV was founded in 2014 and its head office is located in Jakarta. Geographical coverage is in the Asia Pacific & Southeast Asia

Main areas of focus: focusing on early-stage technology startups

Latest Deals (2019): has invested in 21 startups, Kedai Sayur (technology-supported micro vegetable merchants), Waresix (end to end online logistic platform), HappyFresh (online grocery platform), Fore Coffee (online coffee shop), Warung Pintar (micro-retail technology company), Wahyoo (digitalization of small local stalls in Indonesia)

 

Skystar Capital (Indonesia)

Summary: Skystar Capital was founded in 2014 and its head office is located in Jakarta. Geographical coverage is in the Asia Pacific & Southeast Asia

Main areas of focus: focusing on early-stage technology startups, with a primary focus in Indonesia 

Latest Deals (2019): has invested in 19 startups, SweetEscape (photography service marketplace), Ritase (SaaS & marketplace for truck forwarding), Ekrut (algorithm based headhunting), Dekoruma.com end to end home & living platform), PHI integration (data technology solutions)

 

Triputra Group (Indonesia)

Summary: Triputra Group head office is located in Jakarta

Main areas of focus: focusing on early-stage technology startups

Latest Deals (2019): has invested in 6 startups, Kedai Sayur (technology-supported micro vegetable merchants) and Warung Pintar (micro-retail technology company)

 

Venturra Capital (Indonesia)

Summary: Venturra Capital was founded in 2015 and its head office is located in Jakarta. Geographical coverage is in the Asia Pacific & Southeast Asia

Main areas of focus: focusing on early-stage internet startups

Latest Deals (2018): has invested in 26 startups, Medigo Indonesia (online healthcare system), First Circle (SME lending service), Fave (digital merchant platform), Iprice Group (B2C e-commerce), Carro (automotive marketplace), Zilingo (fashion & beauty e-commerce)

 

Vertex Ventures (Singapore)

Summary: Vertex Ventures was founded in 1998 and its headquarter is in Singapore, with geographical coverage are in America, Israel, India, China, and Southeast Asia 

Main areas of focus: focusing on early to growth-stage startups in global healthcare and global growth sectors. 

Latest Deals (2018-2019): has invested in 357 startups, Warung Pintar (micro-retail technology company), Roomme (marketplace for alternative accommodations to hotels), Payfazz (payment fintech), Cicil (lending fintech focusing on student loan), Sunday Insurance (insurtech for general insurance), Instarem (digital international money transfer), Validus (P2P lending for SME), Binance Asia (cryptocurrency exchange)

 

Vynn Capital (Malaysia)

Summary: Vynn Capital was founded in 2018 and its geographical coverage is in the Asia Pacific & Southeast Asia 

Main areas of focus: focusing on early-stage startups 

Latest Deals (2019): has invested in 4 startups, Pomona (omnichannel to track sales conversion) and Dropee (B2B e-commerce)

 

The industry expands as corporate players go into venture deals and as of October 2018 there are 65 registered VCs in Indonesia. However, not all of them are active and some are actually investing in very different types of deals. 

There are also foreign VCs who frequently visit Indonesia and actually invest in deals in Indonesia – some are already starting the process of setting up an office in Jakarta. We believe more will follow suit. 

By no means, we claim the list to be comprehensive. We will update the Active VCs in Indonesia list should you know some of which we haven’t mentioned, please reach us here: hello@mworks.asia 

Thanks for reading The Low Down (TLD), the blog by the team at Momentum Works. Got a different perspective or have a burning opinion to share? Let us know at hello@mworks.asia.

 

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