Alpha JWC Ventures Books 1,7 Trillion Rupiah in Both Fundraising

Alpha JWC Ventures announced that it has closed its second investment fundraising of $123 million or equivalent to 1,7 trillion Rupiah. Since opening in mid 2018, Fund 2 is closed "oversubscribed" -- the number of investors who want to join is more than the available slots. In addition, almost all investors in Fund 1 joined this round.

Funds raised in Fund 2 have been invested since late 2018 into 14 startups. The one that gets the biggest investment is Memories Coffee in November 2018 with the acquisition of $ 8 million or around 121 billion Rupiah. So far, there are 33 startups in their portfolio.

"One of the important factors in the success of our startup portfolio so far is the support from our team in the journey and development of these startups; as well as our focus on the business fundamentals of each company. We always emphasize the founders and startup team about the importance of calculating economic units and financial accountability from the first day they joined Alpha JWC. We believe this approach is essential for the long-term sustainability of the startup," said Chandra Tjan, Co-Founder & Managing Partner of Alpha JWC Ventures.

In portfolio management, it uses the approach hands-on making, in various related business lines, ranging from recruitment, marketing, and legal support.

"We also avoid investing in similar companies or those that compete directly with startups that we have previously funded. Our principle of supporting our startups directly and intensively means that we must really choose founder and continue to help them throughout the startup journey," added Jefrey Joe, Co-Founder & Managing Partner of Alpha JWC Ventures.

Currently Alpha JWC has 20 team members. This year they added three new partners, namely Alan Hellawell (former CSO of SEA Group), Erika Go (formerly Principal Alpha JWC), and Eko Kurniadi (former VP of Investment Creador). In addition, they have now opened a permanent office in Singapore to be able to reach more startups in Southeast Asia.

"We continue to actively look to Vietnam's digital industry for funding opportunities. As one of the fastest growing economies in the world, we believe Vietnam is the next largest market in Southeast Asia. So far, we have had three investments in Vietnam and are looking into several other startups. ," added Chandra.

In its initial debut in 2016, Alpha JWC Ventures launched Fund 1 worth $50 million or around 700 billion Rupiah. The funds were channeled to 23 startups in Southeast Asia, the majority from Indonesia. In less than 4 years, Fund 1 is claimed to have grown to 3,2x in Net Asset Value (NAV). Alpha JWC has also managed to do two exit, i.e. network co-working spaceSpacemob (acquisition by WeWork in 2017) and business media Deal Street Asia (acquisition by Nikkei in 2019).