Indonesia-focused VC firm raises $115m in final close of its third fund

Intudo Ventures, an early-stage VC firm that exclusively invests in Indonesian startups, announced that it has closed its newest fund, Intudo Ventures Fund III, and raised a total of US$115 million.

More details

• Investors: Singaporean businessman Koh Boon Hwee’s Black Kite Capital, President International Development Corporation, Wasson Enterprise, plus seven global Forbes Midas List investors, over 10 tech unicorn founders, and more than 30 Indonesian conglomerates
• Amount raised: US$115 million
• Stage: Final close
• Average ticket size for investments: US$1 million to US$10 million
• Sectors: Agriculture, business-to-business and enterprise, education, finance, insurance, healthcare, logistics, new retail, and entertainment

More company updates

• The latest fundraise brings the total assets under management of Intudo Ventures to about US$200 million.
• About 70% of the raised amount came from global investors – a similar trend to the firm’s previous two investment funds.
• Intudo Ventures says it started raising the funds for its latest investment vehicle last June and closed it in less than three months.
• In January this year, the firm launched the Intudo Pulkam SEA Turtle Fellowship to encourage the Indonesian diaspora to return to their home country and build businesses.
• The VC firm counts prominent startups such as payment gateway Xendit, healthtech startup Halodoc, agritech platform TaniHub, cryptocurrency exchange Pintu, and logistics service Kargo among its portfolio companies.

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.