Sriwijaya Capital, a private equity firm based in Singapore and Jakarta, has raised over US$200 million for its first fund, according to two sources familiar with the matter.

The firm aims to reach a US$300 million cap in the next six to twelve months.

The firm was founded by Indonesian businessman Arsjad Rasjid, who previously led Indika Energy and currently chairs the Indonesian Chamber of Commerce and Industry.

Sriwijaya plans to invest in Southeast Asian companies, focusing on those with regional expansion potential and family-owned businesses considering professionalization, the sources said.

Its inaugural deal, expected in the coming months, will likely involve an Indonesian company.

Sriwijaya Capital said its fund will target growth-stage companies in sectors including healthcare, energy transition, consumer goods and services, business services, and industrials.

Financial details of the fund were not disclosed.

🔗 Source: Reuters