Indies Capital and AC Ventures Sign Investment Agreement with Investor Capital

Aiming to find impact investment opportunities in new sectors, Indies Capital Partners and AC Ventures (ACV) signed a cross-border investment agreement with Penjana Kapital. This collaboration includes joint investment opportunities through existing funds nor newest.

The signing of the Memorandum of Cooperation (MoC) was witnessed by Malaysian Prime Minister Dato' Seri Anwar Ibrahim and Minister of International Trade and Industry Senator Tengku Datuk Seri Utama Zafrul Tengku Abdul Aziz in Jakarta.

For information, Penjana Kapital is part of the Malaysian government's initiative to encourage the development of technology startups.

"Through cross-border cooperation, we have the opportunity to enter new markets, access sources of capital and expertise, and drive innovation and growth in both markets," said ACV Founding Partner and Managing Partner of Indies Capital Partners Pandu Sjahrir.

Apart from the investment, this deal also includes exchange of information, networks and technology for the development of startups in Indonesia and Malaysia in a number of key sectors, including data centers, education, hospitality, mobility, and waste management.

Build relationships

Pandu added that Penjana Kapital, Indies Capital Partners and ACV were major players in the Indonesian and Malaysian investment landscape. This cooperation is expected to strengthen economic relations between the two countries and promote regional connectivity in Southeast Asia.

Both Indonesia and Malaysia have shown a commitment to driving sustainable economic growth. Based on data from the Malaysia External Trade Development Corporation (Matrade), the total trade value between Malaysia and Indonesia will increase by 43,5% YoY to RM95,1 billion ($21,6 billion) in 2021.

Malaysia's total exports to Indonesia rose 32,5% to RM39,22 billion ($6,9 billion), while total imports rose 52,3% to RM55,88 billion ($12,7 billion) in the same period.

Additional information, Indies Capital Partners is a private credit manager in Southeast Asia which has now developed into alternative assets with funds under management of more than $ 800 million. Meanwhile, AC Ventures has managed more than $500 million in assets divided into five background.

As of late 2022, AC Ventures has raised its first round fifth managed fund (Fund V) approximately $162,5 million or equivalent to IDR 2,4 trillion, most of which came from Limited Partner (LP) previously managed funds. So far, AC Ventures has invested in 22 startups over the last nine months of 2022 through Fund V, including SkorLife, KLAR, and BRIK.