Gobi Partners Prepares 152 Billion Rupiah for Early Stage Startup Investment

Gobi Partners (Gobi) announced the provision of funds of up to $10 million (equivalent to 152 billion rupiah) which will be managed by the Gobi-Agung Fund. The investment target is early-stage startups in Southeast Asia, including Indonesia.

Gobi-Agung Fund will be under the control of Arya Masagung, partners from Gobi who only joined earlier this year to oversee the early stage investment strategy in Indonesia.

"Given Gobi's experience as a regional player, we are in a unique position to be a bridge for startups in the region. By investing in both, domestic and foreign, we will be able to leverage our regional ecosystem to the highest potential of creating value for companies this," explained Arya as quoted from Deal Street Asia.

Previously, Agung Fund had made its first investment in Indonesia by disbursing funds for the platform freelancer Fastwork. Gobi-Fund itself is said to be investing up to $1 million per transaction.

The funds from Gobi will be managed in parallel with the funds provided to invest in the Philippines, in collaboration with Core Capital. The two investment programs will serve as discovery fund for the company and will be supported by the Meranti ASEAN Growth Fund from Gobi.

“We are now able to engage early with entrepreneurs and build deeper relationships in the ecosystem. At the same time, we can bring in further funding and a wider Gobi resource/network,” said Gobi Managing Partner for ASEAN Kay Mok Ku.

In Southeast Asia, there are already quite a lot of Gobi funding portfolios, names like Deliveree, iPrice, Orami, Picmix, Stock Sale, Travelio and TripVisto are included with various investment amounts. The announcement of the Gobi-Agung Fund adds to the list of venture capital companies that are targeting investment in Indonesia.