Bukalapak Disburses 110 Billion Rupiah for Initial Stage Startup Investment Through 500 Southeast Asia
Bukalapak is the limited partner of 500 Southeast Asia; previously 500 Southeast Asia was also an investor in Bukalapak
PT Bukalapak.com Tbk (IDX: BUKA) disbursed $7,5 million (around 110 billion Rupiah) to invest in early-stage startups. This corporate action was signed by Bukalapak on April 23, 2023 through an equity participation agreement (subscription agreement) to become a Limited Partner (LP) with 500 Southeast Asia III, LP.
Based on an official statement on the Indonesia Stock Exchange (IDX), this limited partnership aims to channel investment into pre-start startups (pre seed) to the initial stage (early stage) in and by owning equity and/or equity-oriented securities of private companies operating directly or indirectly in Southeast Asia.
"[Private companies] mainly focus on information technology, communications, internet, medical, and fields deep technology," wrote Bukalapak Director and Corporate Secretary Teddy Oetomo on May 3, 2023.
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