1. Startups

AC Ventures Closes 3 Trillion IDR XNUMX Trillion Managed Fund

Throughout 2021, through November, ACV has invested in 18 local startups -- in some startups they are involved in more than one round

AC Ventures (ACV) announced that it has closed its third managed fund (Fund III) worth more than $205 million or equivalent to 3 trillion Rupiah in committed capital. This acquisition brings the total Asset Under Management (AUM) to $380 million for all of its managed funds.

Some limited partners (LP) joined the ranks of investors, starting from the International Finance Group (IFC) owned by the World Bank and Disrupt AD which is the venture arm of Abu Dhabi Developmental Holdings.

Some of the funds from Fund III have been actively invested since the first closing of the round in March 2020. So far, 30 startup funding has flowed, out of the targeted 35 -- ACV has set a target to disburse $100 million by the end of 2021.

"Given our personal experience as entrepreneurs building businesses in emerging markets from inception to acquisitions and IPOs, we position ourselves as a partner to startup founders who are part of our portfolio in addressing the challenges facing fast-growing startups. ACV founders have strong and diverse experience from the United States, China, and Indonesia markets," said ACV Founder & Managing Partner Adrian Li.

Adrian continued, "Moreover, the founders of ACV also have extensive investment experience in successful digital businesses, so we are able to present a broad network and deep insights that can be utilized by startup founders who are our portfolio."

Continue hypothesis

It was also stated that the latest managed funds will still be used to continue the previous ACV strategy, which is to focus on early-stage startups in Indonesia. They use a deep thematic approach and strong discipline in investing in startups with strong founding backgrounds. ACV also uses business model analysis and the right market approach to build in-depth expertise in a sector.

In addition to funding, ACV also helps founder to build the company through their experiences as investors in various companies, as well as through the team value consisting of experts who have deep understanding and extensive experience in various industrial sectors. This team will support each of the ACV portfolio companies in terms of recruitment, business development, regulation, and capital raising.

"In addition to providing investment funds, we help founder's portfolio to connect them into the wider ecosystem of enterprise and digital platforms, as well as domain expertt all over the world," added ACV Founder & Managing Partner Michael Soerijadji.

With this approach, the previous ACV fund is said to continue to perform exceptionally in the highest quartile with vintage funds in 2015 reached 2,99x MOIC (Multiple of Invested Capital), and vintage funds in 2018 it reached 2,41x MOIC. Meanwhile, Fund III so far has shown performance with MOIC reaching 1,94x in less than 2 years since the first closing.

give birth unicorn and centaur

AC Ventures is a joint entity of Convergence Ventures (established in 2014) and Agaeti Venture Capital (established in 2018). Both are official unite business entities, managed funds, and team in 2019. Now they have also given birth to several excellent startups with titles unicorn and centaur.

Dua unicorn his portfolio is Carsome and Xendit. As for startups that have reached milestones centaur including Shipper, Stockbit, Ula, Aruna, BukuWarung, and CoLearn. In the last 18 months, as digital adoption accelerates due to the pandemic, ACV's portfolio growth has accelerated and generated more than $500 million in additional funding in some of ACV's newest portfolios with participation by global investors, such as Sequoia, Tiger Global and Prosus.

"The COVID-19 pandemic is accelerating the adoption and consumption of digital in various business segments throughout Indonesia. Indonesia's economic resilience in the face of this difficulty not only provides a great opportunity for the internet sector to recover, but also opens opportunities exit increasingly promising as the number of regional tech giants increases go public, "explained AC Ventures Founding Partner Pandu Sjahrir.

More Coverage:

Throughout 2021, through November, ACV has invested in 18 local startups – some of which participated in more than 1 round. The list of startups includes:

StartupsFunding Round
Eden FarmSerie A
AstroSeed
Beauty nameSeed
MajooSeed
The Essence of Global SolutionsSerie A
LegitGroupSeed
ExperienceSeri B
DurianpaySeed
ArunaSerie A
Oh!Serie A
CLEARSerie A
FinantierSeed
SeedsSerie A
CoLearnSerie A
ShipperSeri B
WeBuySerie A
FreshSeed
RaenaSerie A

 

 

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