JAKARTA (TheInsiderStories) — Indonesian financial company, PT Kresna Graha Investama Tbk (IDX: KREN) and investment company China Black Panther Capital partnering to invest in Unicorns, local media reported yesterday (01/22). Both company agreed to create a joint venture company to implement the plan.
According to founder and CEO of the company, Michael Steven, the venture firm its expecting be realized in the next three or six months. The newly joint venture company are also expected to take part on the bourse in the next two years.
“We want to invest as soon as possible whether a company is public or not. Angela (Arsjad) has pocketed at least more than 10 companies to invest in it. After investing and developing it, we also want to see that the company can get an IPO,” adds by Black Panther Capital founder & CEO Alice Zhang at the same place.
She continued, the form of investment offered varies. Not only from individual capital but also come from listed companies or United States funds based in China. Zang said, many Chinese investors are interested in bringing technology experts and investing their capital in Indonesia.
Founded in 2000, Kresna offered investment management, securities brokerage and underwriting. In 2015, Steven reinvented the company with the establishment of its tech incubator and investment division Kresna Creativentures, which has now become the company’ growth driver.
One success story is PT M Cash Integrasi Tbk (IDX: MCAS), a company started in 2010 that operates digital and physical kiosks selling various services such as top-ups of prepaid phone cards, tickets for amusement parks, electronic bill payment and e-commerce shopping. M Cash has 1,000 kiosks in stores across Indonesia and aims to have 10,000 by the end of 2020.
Its subsidiaries, PT Digital Mediatama Maxima, a digital cloud firm, aims to release 25 percent of its shares, and looks to raise Rp400 billion (US$28.57 million). Kresna Creativentures has also made two investments into the Singapore-based financial technology, MatchMove Pay in the first in 2017 and a second in 2018.
While, Black Panther has invested in unicorn technology in China such as Tic Toc, Tencent, Pintoto and many others.
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