Five Most Active Indonesian Venture Capitals in 2019

Running a business is not as easy as turning the palm of the hand. It takes hard work and sufficient capital to build a big business. Talking about capital, almost all startups in Indonesia grow with the help of Venture Capital or business capital provider services.

Reporting from  e-Conomy SEA 2019, Indonesia's digital economy is estimated to reach $130 billion by 2025, this year the figure has reached $40 billion – average growth 49% per year. E-commerce and ride hailing are the main drivers in the region, with digital payment adoption dominating all app-based services. The related business growth is supported by continuous investment. Including the support provided to unicorn Indonesia, its value reached $4 billion in 2018. Seeing the significant growth, of course, there is a great opportunity for startups who want to participate in developing their business with unicorn companies. There are five Indonesian Venture Capitals that are most actively disbursing funds to Indonesian startups in 2019.

East Ventures Capital

East Ventures was founded in 2009 in Indonesia by Willson Cuaca, Batara Eto, and Taiga Matsuyama. Of the 160 startups that have been funded, 30 startups have already been funded exit. Then the other two startups became unicorn.

East Ventures as one of the most active Indonesian venture capital providing funding. His party also still has plans to continue providing early-stage funding to Indonesian startups. At least 30 startups have received funding in 2018. A year later, based on the 2019 startup report, East Ventures is involved in 19 startup funding. Some of them are in the Pre-Series A, Series A, and Seed Funding stages. East Ventures is consistent with their mission to help startups early stage.

at the Seed Funding stage are Communal, Lubna, Triplogic, Wahyoo, Vegetable Shop, Squid, Advotics, Feedloop, The Fit Company, Base.

In the Pre-Series A stage, the startup that received funding from East Ventures was Ekrut. Meanwhile, there were 8 startups in the Series A stage that received funding. They are Stickearn, Mobil Kamu, Julo, Yummy Corp, Stockbit, Fore Coffee, Kedai Sayur, and Jojonomic. 

SMDV

Sinar Mas founded a technology-oriented enterprise venture capital company called Sinar Mas Digital Ventures (SMDV) in 2018. The company has invested in startups such as grocery grocery service HappyFresh, advertising startup Stickearn, and logistics Software-as-a-Service company Waresix. This investment company is the number two active investor based on the 2019 startup report.

SMDV has also invested in several startups in 2019 namely StickEarn (Series A), Yummy Corp (Series A), Fore Coffee (Series A), Wahyoo (Seed Funding), Kedai Sayur (Seed Funding & Series A), Waresix (Series A), Warung Pintar (Series B), IDN Media (Series C), R Fintness (Pre-Series A).

Alpha JWC Ventures

Alpha JWC Ventures is a venture capital firm that has invested around 30 startup, including Money Friends, Kopi Kenangan, Tanihub, Modalku, and WeWork.

Companies that focus on investing in startup technology-based in Indonesia was founded by Chandra Tjan with Jefrey Joe and Will Ongkowidjaja in early 2015. In its initial debut in 2016, Alpha JWC Ventures launched Fund 1 worth $50 million or around 700 billion Rupiah. Until 2019 Alpha JWC Ventures announced that it has closed its second investment fundraising of $123 million or equivalent to 1,7 trillion Rupiah. In portfolio management, it uses the approach hands-on making, in various related business lines, ranging from recruitment, marketing, and legal support.

Several startups that received funding from Alpha JWC are Zuzu (Series A), Carro (Series B), Evermos (Series A), Ajaib (Seed Funding), Bobobox (Pre-Series A), Goola (Seed Funding), Verikool (Seed Funding), Style Theory (Series B). 

Agaeti Ventures

Who doesn't know Fore? Milk coffee, which often accompanies you when you are tired, was born from investment funds Agaeti Ventures. This investment company, also donated funds to Wahyoo, Akseleran, CoHive and Yummy Corp.

In 2019 several startups received funding from Agaeti Ventures, they were StickEarn (Series A), Yummu Corp (Series A), Warung Pintar (Series B), R Fintness (Pre-Series A), Alami (Seed Funding), Bobobox (Seed Funding) and Kargo Technologies (Seed Funding). 

Agaeti Ventures focuses on start-ups that support Pre-Series A and Series A technologies, or those that are just developing in Indonesia and focus on expanding to Southeast Asia. With his trust, this investment company, Agaeti Venture, is included in the top 4 most active investors in 2019.

Then, in 2020 two venture capital firms (venture capital) locally, Agaeti Ventures and Convergence Ventures officially announced the merger and are now named AC Ventures (ACV). The Partners of both companies became Partners of this new company, namely Adrian Li, Michael Soerijadji, Donald Wihardja, and Pandu Sjahrir.

Golden Gate Ventures

Golden Gate Venture is an early-stage venture capital company that was founded in 2011. One of Indonesia's most active venture capital ventures has invested in more than 30 companies in more than 7 countries in Asia. The company invests in internet & mobile startups in many sectors, including e-commerce, payments, marketplaces, mobile apps and SaaS platforms.

By cooperating with startups who want to grow rapidly by utilizing technology and the internet, Golden Gate Venture is able to give birth to great startups such as, Gojek, Carousell, Alodokter, Tanihub, and so on.

In 2019 several startups such as Alami (Seed Funding), Jojonomic (Series A), TaniGroup (Series A), Alodokter (Series C), Zuzu (Series A), Sampingan (Pre-Series A), Ritase (Series A) and Paper.id (Series A) by Golden Gate Ventures 

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