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Aya Lin · · 1 min readIn brief: Indonesian state bank BNI to invest up to $50m for new VC fund
- State-owned Bank Negara Indonesia (BNI) plans to set aside between US$42.9 million and US$50 million to form a venture capital company, Kompas reported.
- The bank’s finance director, Anggoro Eko Cahyo, said that BNI looks to execute the plan during the second half of the year.
- The new VC company will invest in state-owned digital wallet Fintek Karya Nusantara, which operates mobile payment platform LinkAja.
- The investment will be carried out in three stages by BNI Securities for the first stage and the new VC firm for the second and third stages.
Editing by Charmaine de Lazo
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