Japanese finance conglomerate SBI Holdings and Southeast Asia-focused venture capital firm Kejora Capital announced a joint venture to launch a US$30 million early-stage tech fund that will focus on Indonesia.
Kejora Capital, SBI Holdings, and the Orbit team / Photo credit: Orbit
SBI Kejora Orbit Fund I will invest between US$200,000 and US$3 million per ticket size in areas such as supply chain, education, medicine, consumer goods and retail, agriculture, fintech, and digital media.
It’s expected to hit its first close on June 30. According to a statement, confirmed investors include family offices, high-net-worth individuals, corporations, and other institutional investors across Indonesia, Singapore, Japan, and Europe.
The new fund is the successor of Kejora Star Capital II, Kejora’s early-stage investment vehicle launched in 2016. With US$380 million assets under management, the Indonesia-based VC firm invests from early stage to growth stage. It has 35 portfolio companies across Indonesia, Malaysia, Singapore, Thailand, the Philippines, South Korea, and Hong Kong.
The joint fund also marks SBI’s first fund focusing solely on Indonesia. The company’s previous investments in the archipelago include ecommerce unicorn Tokopedia, fintech firm Investree, business-to-business marketplace Ralali, and peer-to-peer lending firms Amartha and Taralite.
The Orbit Fund will be led by Billy Boen and Shunichi Keida, along with Leon John Hermann, Yudi Anugrah, and Richie Wirjan.
Last year, Indonesia saw at least 110 funding transactions, with total funding raised amounting to nearly US$3 billion from 60 disclosed investments. Sectors such as finance, software as a service, ecommerce, and logistics secured the biggest number of transactions, according to a report.
Editing by Charmaine de Lazo
(And yes, we’re serious about ethics and transparency. More information here.)
Stay updated on the go with our mobile app.
Get latest insights with smoother, more personalized experience through TIA mobile app.
