Kejora and SBI Holdings Inaugurate “Orbit Fund”, Prepare 426 Billion Rupiah for Indonesian Early Stage Startups

Today (03/6) Kejora Capital and SBI Holdings announced the launch of the Orbit Fund. That is a j in the form of a venture capital company focused on funding early-stage startups in Indonesia. In their debut, they committed to disburse US$30 million or the equivalent of 426 billion Rupiah.

In the information we received, Orbit Fund will do first closing on June 30, 2020 with its investors and immediately poured the funds. So far they claim to have received strong commitments from various investors, including them family offices, high net worth individuals (HNWI), corporate and institutional investors from Indonesia, Japan, Singapore and Europe.

Some of the targeted sectors focus are: edutech, healthtech, consumer goods, agritech, fintech, and online media. The initial stage of funding disbursed ranged from US$200 thousand to US$3 million.

For its operations, the company appointed Billy Boen as director. Previously he was known as a entrepreneur, also active as angel investors and advisor for several companies in Indonesia. Apart from Billy, Shunichi Keida will also assist the venture capital leadership. Also strengthened by team members consisting of Leon Hermann, Yudi Anugrah, and Richie Wirjan.

"Orbit Fund is here for Indonesian startups. In addition to financial support, SBI Holdings and Kejora have experience in more than 25 other countries, and the resources and insights local and regional to build technology startups in Indonesia. With the support of venture capital With experience, we believe that Orbit is able to generate and build a generation of startups that are getting stronger," said Billy.

Meanwhile, Yoshitaka Kitao as President & CEO of SBI Holdings said "SBI Holdings is very proud to announce this partnership, considering that it has been more than 3 years that we have developed a relationship with Kejora since co-investments our first. SBI Holdings believes that there will be many technological innovations in Indonesia, and the Orbit Fund is a renewal of our commitment to accelerate the growth of the technology sector in Indonesia."