AC Ventures partners with global firm to invest in Indonesian startups

AC Ventures, an Indonesia-based venture capital firm, has partnered with global investment company Capria Ventures to invest in startups from Indonesia.

(From left) AC Ventures founding partners Michael Soerijadji, Pandu Sjahrir, and Adrian Li / Photo credit: AC Ventures

The deal is in line with Capria’s goal to invest in companies across Southeast Asia, India, Latin America, and Africa.

AC Ventures has US$300 million in assets under management, and it plans to complete the final close of a US$120 million targeted fund by the end of this year. The fund will invest between US$1 million and US$10 million in early-stage companies across ecommerce, logistics, and fintech sectors, as well as in micro, small, and medium-sized enterprises.

Meanwhile, Capria focuses on sectors such as fintech, edtech, job tech, logistics, agritech, and healthcare in Global South regions – referring to certain countries in Asia, Africa, and Latin America. It invests in regional startups that have the potential to become unicorns and backs local and regional fund managers with capital and strategic support. Capria has offices in Seattle, Bangalore, Nairobi, Santiago, and Washington, D.C.

See also: The VC-fueled race to become Indonesia’s dominant digital bookkeeper

“AC Ventures and Capria share a similar approach as hands-on, value-adding investors bringing hi-octane capital that support founders with collective experience, network, and resources,” said Dave Richards, co-founder and managing partner at Capria Ventures. He added that Capria is looking to co-invest directly with AC Ventures in their combined portfolio of companies.

Firms under AC Ventures’ portfolio for its third fund include Shipper, Stockbit, Aruna, and Eden Farm. AC Ventures said its latest fund has seen over 25 follow-on financing rounds into its portfolio companies since its first close in 2020, delivering over 2.5x gross return on invested capital in unrealized gains.