JAKARTA (TheInsiderStories) – Local venture capital company, MDI Ventures is preparing four startups in its portfolio to list their shares (IPO) in Indonesia Stock Exchange or dual listing, said the managing director. The IPO will be carried out in the first quarter (1Q) of 2021 with a targets up to RpRp150 billion (US$11 million).
“The first (IPO) will be run in 1Q 2021, at the end of February or March,” Kenneth Li told reporters on Friday (11/20).
MDI Ventures has 39 startup from 12 countries in its portfolios, including Geniee Inc., whose shares are listed on the Tokyo Stock Exchange and Whispir listed on the Australian Securities Exchange. Domestically, the portfolios included Kredivo, Qlue and Bahaso.
Beside get capital injection from its parent, PT Telkom Indonesia Tbk (IDX: TLKM), worth of $500 million, the investment firm also had received fresh funds with some amounts from investors. The company aimed to investing in the digital industry is experiencing business growth and valuations are increasing rapidly.
Last year, its other VC armed, PT Telkomsel Mitra Inovasi (TMI) and MDI Ventures, get fresh funding of $40 million from its parent. The funds use for its business by funding new startups until the end of 2019.
According CEO of TMI, Andi Kristianto, with the new injection, the new company would look for startups that already had traction and seemed to be able to synergize with assets owned by PT Telekomunikasi Selular (Telkomsel). After get fresh funding from its holding, both companies injected undisclosed amount of funds to a strategic investment-based company funded PT Finaccel Teknologi Indonesia or popular with brand Kredivo.
In early 2019, both companies had also made initial funding to Kredivo with total amount $30 million. Kredivo is a startup with innovative products in the form of new alternative digital payment methods, with a variety of methods and payment terms for buyers. Kredivo has been helping payment transactions for major players in e-commerce such as Tokopedia, BukaLapak, Shopee, and Moka’ online cashier system.
In addition to Kredivo, he stated, TMI did not set the number of startups that will be funded in this year. So far, TMI collaborated with MDI Ventures, its holding, and Singapore-based Singtel Innov8.
Both also injected $4 million in the first round of its ongoing Series C investment in Anchanto, a Singapore headquartered pan-Asia SaaS technology company. MDI Ventures’ funding comes after Series B funding from Japan’ Transcosmos Inc., and Singapore’ Luxasia Group in May 2017.
Latest investment in in American-based internet of things startup Roambee’ Series B1 funding round worth of $15.2 million led by Anchor Group, a Swiss-based investment firm, and Comcraft, a global investment group. The Roambee series also included investments from Intuitive Ventures, logistics conglomerate Jebsen & Jessen, and industrialist Anant Singhania.
In addition to the unit’ portfolios, Telkom also aimed to bring the tower provider, PT Dayamitra Telekomunikasi (Mitratel) go IPO. This plan was leaked by deputy minister for state own enterprises, Kartika Wirjoatmodjo recently.
“In the future, we will also conduct an IPO and strategic partnerships in the various existing clusters like Pertamina its upstream holding and Telkom with Mitratel,” he asserted.
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