1. Startups

1982 Ventures Closes Initial Managed Fund of 292 Billion Rupiah, Making Indonesia the Core Market

1982 Ventures invests in early-stage fintech startups, now has 9 portfolios in Indonesia

1982 Ventures announced the final closing of their initial managed fund of more than $20 million or equivalent to 292 billion Rupiah in capital commitments. The funds are claimed to be oversubscribed or oversubscribed, the initial target was to raise about $15 million.

This venture capital company, founded by Scott Krivokopich and Herston Elton Powers, since its debut has focused on investing in startups in Southeast Asia. In total they have invested in 25 startups in various countries in Southeast Asia, Pakistan and Bangladesh.

"We are accelerating the pace of investment despite the current [negative] market sentiment. Service fintech Early stages in Southeast Asia remain the most attractive sector for venture capital," said Herston.

Their first fund has been backed by global VCs, institutions, companies and family offices. Leading investor in debut fund 1982 ventures including the family office of one of Indonesia's largest conglomerates, Trihill Capital, fintech unicorns AS Carta, to the Genting Group venture unit.

Meanwhile, individual supporters of 1982 Ventures include startup founders unicorn, senior executives of technology companies, businesses in VC such as Sheel Mohnot (Better Tomorrow Ventures).

"We are fintech funds global and have seen how fintech change all markets. 1982 Ventures was the obvious choice for us for funding and being a partner who understands the service landscape fintech in Southeast Asia,” Better Tomorrow Ventures Co-Founder & General Partner Sheel Mohnot.

Plans in Indonesia

1982 Ventures leads funding round pre seed and seed with an investment ticket of $250 thousand to $500 thousand. The company targets to make 10-15 new investments, in addition to the follow-up investments in their Fund I portfolio.

1982 Ventures has an initial commitment of more than $5 million for Fund II to be announced soon.

Especially for Indonesia, there are currently around 9 startups that have received investment from 1982 Ventures. Among them are safe, Citycall, hipajak, Luna, Monit, PasarMikro, Pina, Wagely and Brick.

More Coverage:

1982 Ventures lead our first round of VC and Brick is very fortunate to have investors who live and breathe fintech and are always ready to support us with the introduction of investors, customers and talents,” said Brick Co-Founder & CEO Gavin Tan.

To DailySocial.id Herston said Indonesia was a core market for 1982 Ventures and they hoped to increase investment in Indonesian fintech startups.

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