BNI Officially Establishes CVC, Enliven Venture Capitalist Ecosystem in BUMN

PT Bank Negara Indonesia Tbk. announced the establishment of a venture capital entity named "PT BNI Modal Ventura". Corporate Venture Capital (CVC) The aim is to support the company's steps in carrying out digital transformation.

From the disclosure uploaded on the IDX, the company deposited 500 billion Rupiah or the equivalent of 500 thousand shares, making 99,98% ownership of CVC by BNI's parent --- the rest by PT BNI Asset Management.

The news about BNI's plan to enter the digital ecosystem has actually been heard since the end of last year. Exactly when the news of the Red and White Fund (MPF) sticking out. As is known, the managed funds are supported by 5 SOEs through their respective CVCs, including Telkom, Telkomsel, Bank Mandiri, Bank Rakyat Indonesia, and Bank Negara Indonesia. At that time, only BNI did not have a CVC, while the other 4 did.

Until now, it is not known who will lead the CVC unit owned by BNI, as well as the investment thesis that will be echoed.

Quoting Cash, BNI Finance Director Novita Widya Anggraini stated, in order to encourage the creation of digital innovation and growth in Indonesia, BNI intends to actively participate in the digital economy sector. It is hoped that the establishment of BNI Venture Capital will have a positive impact on BNI's consolidated performance and position in the industry.

CVC from BUMN

In addition to the mandate to find the right business partners in carrying out digital transformation and synergies between companies, several SOEs also present CVC units to provide more business value for the company. It is suspected to be a path exit increasingly measurable for its investment in technology startups.

The presence of CVC BUMN also competes with venture capitalists in the startup ecosystem. They don't just rely on start-up funds disbursed from the parent company, some of which form new managed fund together with other business partners to expand the scope of startups that can be funded.

The presence of CVC is clearly a breath of fresh air for the ecosystem. In addition to investing, some of them also provide coaching programs, such as MDI through Indigo, BRI Ventures through several collaboration acceleration programs, as well as TMI through TINC.

On the investment hypothesis side, through the managed funds owned, the variance is also very widespread. For example, what BRI Ventures does is not only fintech, now they too invest in D2C and crypto. Mandiri Capital also extends its hypothesis 'beyond fintech', supports startups that are directly and indirectly involved in the financial sector. The size of the funding ticket also varies, ranging from seed until the final stage.