JAKARTA (TheInsiderStories) - MDI Ventures together with a thematic investor from Netherland, Finch Capital, launched Arise Fund, an investment fund with a focus on early stage funding for the financial technology (FinTech) startups in Indonesia. Both parties targeting to manage asset under management of US$40 million in the coming year.
The Fund was established to empower a new generation of startup founders, especially those emerging in the midst of the economic crisis that hit in 2020. President Director of state-owned telco company, PT Telkom Indonesia Tbk (IDX: TLKM), Ririek Adriansyah, said, Indonesia is one country that has great potential for startups.
“This is a form of TelkomGroup’ commitment to creating a healthy and growing digital technology ecosystem, in order to strengthen Indonesia’ digital economy and build a modern SOEs sector,” he said, in a press statement released on Friday (11/27).
Aldi Adrian Hartanto, Arise’ general partner, added, with the target, Arise Fund is actively helping pre-series A startups not only in terms of funding. He commented, “We have a variety of guidelines to facilitate this process, which can be applied and adapted to different technology ecosystems, both in Europe, Asia and in Silicon Valley- the market regions where MDI Ventures and Finch Capital are actively investing.”
Trans-Pacific Technology Fund
Earlier, MDI Ventures together with Trans-Pacific Technology Fund from Taiwan, announced Series B funding to Kata.ai, a pioneer of conversational artificial intelligence and natural language processing technology in Indonesia. No further details the amount of this Series B funding.
In August 2017, Kata.ai already received Series A funding worth of $3.5 million from both parties also Access Ventures from South Korea and Convergence Ventures. Irzan Raditya, CEO and co-Founder of the startup, stated the social commerce platform is predicted to have a large enough role in online commerce sales in Indonesia.
Kata.ai is has trusted by more than hundreds of companies of various scales. Currently, McKinsey has predicted that by 2022 the total gross merchandise value of social commerce in Indonesia will reach $25 billion.
US$1: Rp14,100
Written by Editorial Staff, Email: theinsiderstories@gmail.com
