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Jofie Yordan · · 4 min read

Funding founders before the first build

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In focus


Hello reader,

Some time ago, I spoke with someone from Indonesia’s Ministry of Communication and Digital and learned something troubling. They said there have been fewer founders in the country these days, with not many new startups being registered in the ministry’s database.

As funding gets harder to secure, founders are struggling to build new startups. VCs have also become more selective, so new startups may need to show traction first to convince them to part with the capital.

CyberAgent Capital, a Japan-based corporate VC, is doing the opposite: It targets very early-stage startups that may not even have a product yet – just an idea.

Kevin Wijaya, the firm’s Indonesia director, told me it will launch a scout fund next year to invest in this segment, with ticket sizes of around US$30,000 to US$50,000. It’s a small amount, but it could be meaningful for new founders amid the funding crunch.

He also outlined CyberAgent’s plans for 2026, including doubling down in Malaysia and Singapore, and intensifying its focus on the direct-to-consumer sector. You can read the full interview in today’s first top story.

Meanwhile, in the second top story, my colleague Glenn delves into QuantumByte, an Indonesian AI coding startup. The bootstrapped company fixes coding errors made by AI.

Unlike typical vibe coding tools, QuantumByte earns a substantial share of its revenue from troubleshooting services. It’s a sign that an entire industry could be forming around fixing AI’s mistakes.

Jofie Yordan, journalist


Top Stories

1️⃣ CyberAgent’s 2026 playbook: D2C, Malaysia, and a new fund

Kevin Wijaya (second from left) with the CyberAgent Capital team / Photo credit: CyberAgent Capital

The firm will allocate a portion of its CA Startups Internet Fund 4 – which has a size of around US$50 million – to a scout fund targeting very early-stage startups. New founders struggling with funding amid the tech winter will likely appreciate the development.


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TIA Writer

Jofie Yordan

Based in Jakarta. A correspondent at Tech in Asia who covers startups and VC, with a primary focus on the ecommerce sector in Southeast Asia.