Sinar Mas Conglomerate Group Prepares New Investment Company Latitude Venture Partners

One of the Indonesian conglomerate group Sinar Mas is preparing a new investment vehicle in the form of Latitude Venture Partners (LVP). According to information quoted from Deal Street Asia, the fund under management of LVP is said to have reached $200 million or close to 3 trillion Rupiah.

We talk to Partner LVP YC Ng about the information. YC has so far not confirmed the amount of funds it manages.

"We cannot comment on the size of our funds at this time, but opportunities are abundant in Indonesia given the early stages of infrastructure in all sectors and industries. In addition, we are committed to growing and developing these sectors and committed to channeling capital appropriately," explained YC.

LVP is Sinar Mas' third venture to invest in the startup industry, having previously owned Sinar Mas Digital Ventures (SMDV) and was involved in establishing EV Growth (with East Ventures and Yahoo Japan) to invest in advanced startups.

LVP claims to be a venture capital company that is interested in companies in the industrial sector and traditional sectors that can become game changer in their respective industries. In the LVP team there are Managing Partner Linda Wijaya and Partner YC Ng.

According to the information we received, LVP and SMDV were separated due to different funding structures. SMDV is more corporate venture capital (CVC) with full funding from Sinar Mas. YC confirmed that LVP was acting as venture builder and venture capital, with a composition of 80:20.

Sebagai venture builder, LVP will partner and invest into startups in the early stages. As for the investment/VC side, LVP is eyeing startups in Indonesia mid late stage with funds provided per round is $1-10 million.

YC said that the focus of LVP's investment is startups in the healthtech and fintech sectors. Although targeting the global market, LVP ensures that it will pay special attention to startups whose main focus is their operations in Indonesia.

- Amir Karimuddin contributed to writing this article