Northstar Group Books First Phase of its Fifth “Fund”, Targets 12,5 Trillion Rupiah Funds

Company private equity Northstar Group recently announced that it has completed the first phase of its Northstar Equity Partner V Limited (Northstar V) funding. Fund These five will be focused on investing in stage companies early stage and growth located in Indonesia and Southeast Asia.

This first phase of funding represents approximately one third of Northstar V's total target of US$800 million or IDR 12,5 trillion equivalent, similar to the two flagship funds Northstar before. With the completion of the first phase of Northstar V, the Northstar Group now has more than US$2 billion in funds under management.

Some of the investors who also support include those from the sovereign wealth funds, insurance companies, institutional investors, family office, as well as investors high net worth individual.

"As a regional investment company, we set three investment themes for Northstar V, namely financial services, consumers, and digitaleconomy; based on the analysis of market data insights and our experience accompanies company portfolio," said Head of Corporate Affairs Northstar Group Hiro Whardana told DailySocial.

Hiro further explained about the plan to disburse the funds, “At the planning stage, we did not specifically define the percentage for each of these investment themes. Determination of the use of funds will be based on our analysis of the balance of potential return and risk investation."

As is known, previously the scope of Northstar's portfolio was quite diverse. In the digital landscape, they invest in several startups including Gojek, Zenius Education, and three startups from Vietnam, namely UPgen, Tiki.vn, and Topica.

“Specific for early growth stage startup, at this time we will still focus more on the existing portfolio, but it is possible to continue to explore deal available,” Hiro continued to explain.

Northstar Group was founded in 2003 by Patrick Walujo and Glenn Sugita. In 2006, Northstar Group raised its first funding, Northstar Equity Partners (NEP) Limited of US$110 million. This was followed by NEP II (US$285 million) in 2008, NEP III in 2011 (US$820 million) and NEP IV in 2014 (US$810 million). The company is supported by 27 professional teams in Singapore and Indonesia.

"The Indonesian market, and Southeast Asia in general, offers attractive medium and long-term investment opportunities supported by continued rapid growth. This growth will be driven by favorable demographic factors, increasing consumption and people's economic standards, as well as advances in education and digitalization." , welcomes Northstar Group Co-Founder & Managing Partner Patrick Walujo.

Glenn Sugita, Co-Founder & Managing Partner of Northstar Group added, “In this uncertain situation, we want to be the capital provider and partner of choice for business owners in managing challenges and maximizing future opportunities. We will continue to provide not only capital for our portfolio companies, but also the expertise and experience we gain across sectors and business cycles."