Unpacking this Indonesian investment firm’s plan for 2023

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Despite current market headwinds pressuring investors to pull back funds and set higher screening criteria for startups, a handful of industries are still thriving. The most obvious one is AI, which is undergoing a gold rush.

While AI is grabbing headlines, climate tech has been charting its own revival this year. Fueled by government support and consumer demand for sustainable solutions, the sector is reshaping the landscape of environmental sustainability and innovation.

One driving force behind its rise is the increasing recognition of the economic opportunities related to sustainability. In fact, at the end of last year, climate tech funds had about US$37 billion of dry powder ready to deploy.

Now, Indonesia-based Venturra is looking to jump on the bandwagon. With notable exits that include Grab, fintech firm Fave, and beauty commerce startup Sociolla, the early-stage investment firm has cast its gaze on the sector as it prepares to launch its third fund.

Raditya Pramana, managing partner at Venturra, shares his views on the investment outlook in Indonesia, the potential of climate tech in the archipelago, the evolving role of VCs in startup ecosystems, and much more in today’s featured piece.

Today we look at:

• The investment plans of Indonesia-based Venturra for 2023
• Singapore-based Nansen axes 30% of workforce
• Other newsy highlights such as Malaysia planning to boost its agriculture and Binance downsizing

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Let the funds flow

Image credit: Timmy Loen

“The discount rack can offer some great deals.” This statement generally holds true. Just ask the breadwinner of any middle-class household in India.

But this time, Venturra’s Pramana leveraged the phrase to inspire startups with a healthy cash runway to use M&As “either as ways to pick up market share, gain talent, or expand into new markets” amid the current market downturn.

• Beyond the basics: Besides seeking out entrepreneurs in climate tech, Venturra has also released a report on climate change, which highlights trends in the sector and identifies production, agriculture, electricity, and transportation as key verticals for innovation across Southeast Asia.
• It’s not all about climate tech: The firm continues to be optimistic about specific sectors, including the creator economy and consumer-focused businesses, “particularly local brands with offerings tailored to increasingly value-conscious Indonesian consumers.” It also remains focused on the “recession-proof” healthcare industry.
• Target markets: As far as geographies go, Venturra remains focused on Indonesia as its primary market, but Pramana shares that it also looks toward “markets like Vietnam, where patterns that we recognized in Indonesia over the past several years are playing out in the local context.”

Wielding the layoff ax

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