Aditya Hadi Pratama · · 1 min readIndonesia’s largest private bank to pour $27.8m into VC arm
Indonesia’s Bank Central Asia (BCA) has allocated 400 billion rupiah (around US$27.8 million) to its VC arm, Central Capital Ventura, reported local news agency Antara, citing a statement from Jahja Setiaatmadja, the bank’s president director.
The the VC firm will continue to invest in startups that can combine financial services with other sectors such as logistics, health, and commerce.
Founded in 2017, Central Capital Ventura had raised US$15 million for its maiden fund. So far, it has invested in 26 startups, including insurance platform Qoala, payment company Oy, and peer-to-peer lending firms Akseleran and KlikA2C.
BCA is the largest private bank in Indonesia by assets. It is part of local conglomerate Djarum Group, which also has several tech firms such as ecommerce startup Blibli and online travel company Tiket.com in its portfolio.
See also: These are the most active investors in Indonesia’s startups
Currency converted from Indonesian rupiah to US dollar: US$1 = 14,385 rupiah
Editing by Collin Furtado and Arpit Nayak
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