BRI Ventures launches VC fund targeting Indonesian tech startups

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INDONESIA's BRI Ventures - a corporate venture capital firm under state-owned bank BRI - on Wednesday launched a locally incorporated, independent venture fund to invest in tech startups. Read more at The Business Times.

"As the tech landscape in Indonesia continues to mature, coinciding with the aftermath of the Covid-19 pandemic, the industry’s focus has shifted towards companies that are able to survive in times of crisis," it said.

"At the end of the day, what is important is that startups have good business fundamentals from day one, and are able to create real value in the local economy. Sembrani Nusantara aims to target a specific type of company in this respect, taking a 'hyper-localised' stance." Added BRI Ventures chief executive Nicko Widjaja:"Until recently, the priority for local startups has been to grow at all costs.BT is now on Telegram!

Source: News Formal (newsformal.com)

 

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