JAKARTA (TheInsiderStories) – Local venture capital, Kejora Capital and Japan-based financial service company, SBI Holdings, launced SBI Kejora Orbit Fund I, said the company yesterday (06/03). This joint venture fund marks SBI’ first Fund focusing solely on Indonesia.
Both prepared a US$30 Million, early-stage technology fund, focusing on investment in Indonesia. The Fund is expected to complete its first closing by June 30, with confirmed investors and will start the deployment immediately.
Orbit will invest between $200,000 – $3 Million per ticket size in thematically targeted technology areas, including supply chain, education, medical, consumer Goods and retail, agriculture, financial technology, and digital media.
The Fund is the successor of Kejora Star Capital II, the venture capital’ early-stage investment vehicle launched in 2016. For SBI Holdings, since 2011 had made investments in Indonesia through the regional investment vehicle, with portfolios including Tokopedia, Investree, Ralali, Amartha, and Taralite.
“Over the years, Kejora has built robust ecosystem support and synergy across our portfolios and partners. We’re proud to continue building on this momentum with Orbit Fund, alongside SBI Holdings,” said Andy Zain, Managing Partner at Kejora Capital.
Yoshitaka Kitao, President & CEO of SBI Holdings added, “We are very pleased to officially announce the launch of our joint venture with Kejora. Since our first co-investment with Kejora more than three years ago, we have continuously cemented our confidence in the Indonesian technology sector through investments and partnerships.”
Orbit Fund will be led by Billy Boen and Shunichi Keida, alongside with Leon John Hermann, Yudi Anugrah, and Richie Wirjan. Boen is a well-connected figure in the entrepreneurial world in Indonesia with multi industries experience. He has been an angel investor and has also taken advisory roles in various companies from tech startups to the largest enterprise in Indonesia.
“Orbit Fund will not only provide financing but also offer combined resources from Kejora and SBI and insights from the extensive portfolio companies across the 25 countries to help build a strong generation of startups in Indonesia,” said Boen.
The Fund received strong backing from a diverse group of investors, including family offices, high net worth individuals, corporations, and other institutional investors across Indonesia, Singapore, Japan, and Europe.
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