Beenext Books 2,2 Trillion Rupiah Managed Funds, Indonesian Startups Still Become Attention

Beenext as venture capital from Singapore, who actively invests in early-stage startups in Indonesia, today (16/6) announced that it has closed two of its managed funds (funds) new, raised funds worth US$160 million or equivalent to 2,2 trillion Rupiah. Previously they had posted US$110 million in fund The first one was titled "Beenext Emerging Asia Fund".

These funds come from institutions in the United States, Japan, family conglomerates, to entrepreneurs who are interested in digital business. The new fund is designed to connect early-stage startups to the network founder Beenext, for global partnership opportunities and access to the best resources.

Beenext's investment approach is centered on founder; because apart from monetary commitments, they will also play a key role in accelerating business. The company has invested in more than 180 startups worldwide, 45 of them from the Asia Pacific region.

"Covid-19 has affect every aspect of global business, but we continue to see budding founders pushing boundaries to not only survive but thrive in these conditions [...] we feel the need to nurture an entrepreneurial ecosystem to ensure we bounce back as a strong founding community," said Founder & Managing Partner Teruhide sato.

He continued, "Beenext has always believed in building a business together with the founders and co-investors locally, in order to have a lasting impact. We look forward to being able to create and grow together with more new founders."

In the release, funds will be focused on ecosystems in India, Southeast Asia, and Japan. India will get a 50% share of the first managed fund while continuing to increase the volume of funding in Southeast Asia.

To DailySocial, Faiz Rahman from Beenext explained, "We plan to allocate 40% of the fund under management for Southeast Asia and Indonesia. We will continue to focus on early-stage startups, in the financial sector. e-commerce, fintech, healthtech, agritech, logistic, HR-tech, and SaaS."

Although to date Beenext does not yet have a team and local office in Indonesia, they have invested in 16 Indonesian startups and several regional startups that are expanding into the Indonesian market. These include Ralali, Zilingo, Amartha, Dekoruma, Happy Fresh, Sweet Escape, Zenius, Snaphunt, Mekari, Andalin, Janio, Ritase, Provesty, AgenKan, Raena, Jendela360, Akseleran, There is work, and TrustMedis. The last three names received investment around the beginning of 2020.