Through its Subsidiary, Kresna Graha Investama Acquires Three Startups at Once

Kresna Graha Sekurindo (KREN), which has been known through the securities company Kresna Securities, has officially made a little pivot from being a stock brokerage company to an investment company. Changed his name to Kresna Graha Investama (hereinafter referred to as Kresna) and prepared himself to become holding company, they have prepared a special company to acquire three startups engaged in the e-commerce sector.

As stated by Managing Director Jahja Suryandi, his party through PT Kresna Usaha Kreatif (KUK) has now acquired three startups. This acquisition was carried out after his party took steps spin off which to become a company in the field of investment.

There is no detailed information regarding what startups were acquired, but Jahja said that two of them are foreign startups and Kresna's focus is on startups in the e-commerce sector. Regarding which startups have been acquired above, Kresna will soon announce to the public next week.

There is also no certainty about the disbursement of the acquisition funds. The company said it was currently finalizing the legal process. Referring to the financial statements as of June 2015, cash holdings were recorded at 63,74 billion. Interestingly, the presence of KUK means a serious step to lead a start-up company to become a big company.

Establishing yourself to invest in an e-commerce startup is certainly a predictable move. Yes, none other than because this business is so sexy growing in Indonesia.

Kresna himself previously had experience in securities, asset management and financial business. This acquisition and diversification step is his first step as an investment company. Considering the sluggishness of the capital market in the past year, diversification into real business can be considered as a logical step.