MDI Ventures to Add Two New Managed Funds in 2020

This year, MDI Ventures will immediately add two more new managed funds to strengthen the Telkom Group startup investment portfolio from the stage early stage to later stages.

MDI Ventures Head of Investor Relations & Capital Raising Kenneth Li to DailySocial revealed that this addition was because the allocation of the first round of funds for four years had run out.

"Yes, that's the plan. But, I can't yet share what the details are because we are just starting the process,” said Kenneth.

In early December 2019, Telkom Group through MDI Ventures and KB Financial Group from South Korea also formed a new managed fund called Centauri Fund.

Back again, in the middle of 2019, a subsidiary in the mobile business Telkomsel form a new investment unit, namely Telkomsel Innovation Partner (TMI) which will be managed by MDI Ventures.

Kenneth emphasized that the plan to establish two new managed funds would fill the various funding portfolios of Telkom Group and its subsidiaries.

“Centauri focuses on series A and B. Meanwhile, TMI has specifics requirement from Telkomsel so that it becomes a single LP fund and styleits more CVC with synergy requirements,” he added.

In terms of funding, he said that his party would raise more funds for each new managed fund.

“The Rp1,4 trillion [fundraising] is only for the Centauri Fund. Every fund, [allocation] varies. Later [there] fundraising again," he said.