Edward Tirtanata said on September 23 that he had increased his stake in Kopi Kenangan, an Indonesia-based coffee chain he co-founded, by buying shares from early team members and other shareholders.

In a social media post, Tirtanata said the purchases were meant to give long-time employees and early shareholders liquidity without waiting for an initial public offering or another exit.

He did not disclose the deal size or pricing.

He added that founder-led secondary share transactions could help address investor concerns about liquidity in Indonesian startups and support funding for newer founders.

The move comes as Southeast Asia’s private capital markets use secondaries more often to ease liquidity constraints instead of relying only on initial public offerings or mergers and acquisitions.

Kopi Kenangan has previously discussed initial public offering prospects, but no firm listing timeline has been disclosed.

🔗 Source: Edward Tirtanata

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