MDI Ventures and Finch Capital joint VC announces first close on its debut fund

Arise, a joint venture capital fund co-led by Telkom Indonesia’s MDI Ventures and fintech-focused VC firm Finch Capital, has announced the first close on its debut fund. The Indonesia-based fund didn’t disclose the exact amount of this close.

More details

• Investors: Indonesian publicly listed information communications technology company Metrodata Electronics, among others
• Target amount: US$40 million
• Average ticket size for investments: US$250,000 to US$3 million
• Sectors: Unspecified

More company updates

• The VC fund is co-led by MDI Ventures’ vice president of investments, Aldi Adrian Hartanto, and Finch Capital’s managing partner, Hans de Back.
• Hartanto told Tech in Asia that the fund expects to reach its final close by end of next year.
• Arise is targeting to invest in 25 “real businesses” in Southeast Asia for the next three years. Five deals are projected to be closed by the end of this year.
• Before receiving an investment from Arise, startups will have an option to enter Telkom Indonesia’s Indigo Nation incubator.
• After securing Arise backing, companies will ideally get investments from MDI Ventures and Centauri Fund (a sister fund of Arise) at later stages.

For more coverage about the company, head here. You can also click on the link below to view the company’s key details and funding history.