Indonesian VC Convergence Ventures said to be raising $50m second fund


The Jakarta-based firm had closed its first fund, Convergence Capital I, at $30 million in 2016.

Indonesia’s traveltech unicorn Traveloka said to have acquired three regional rivals

The three traveltech startups are Indonesia’s PegiPegi, Vietnam’s MyTour and the Philippines’ TravelBook. All three are subsidiaries of Japanese tech company Recruit Holdings.

Indonesia Digest: Paytren backs Polish football club; SunFish Go nabs $2.5m

Indonesia’s mobile payment startup Paytren has acquired 10 per cent stake in Polish football club Lechia Gdansk while HR platform SunFish Go has secured $2.5 million in a pre-Series A round.

China’s early-stage investor ZhenFund trains sights on Indonesian startups

The venture capital firm now believes it is necessary to start making direct investments in Indonesian startups.

Indonesia’s Go-Jek launches beta app in Thailand

The GET app currently offers two services — a ride-hailing service called GET WIN and a courier service called GET DELIVERY.

Indonesian miner Bayan completes $164m buyback of Kangaroo Resources

Bayan said the share purchase was aimed at giving the company full control over its subsidiaries owned indirectly by Kangaroo Resources.

Indonesian hospitality company ARTOTEL bags strategic funding from Intudo

With this round of financing, ARTOTEL plans to strengthen its existing operations while also expanding its business throughout Southeast Asia.

Indonesia surpasses Singapore to conduct most IPOs in 2018

Public listings in Singapore hit a five-year low with 15 companies raising a total of about $523 million in 2018, while Indonesia recorded a new high by raising a total of $1.1 billion from 57 listings during the year.

Tokopedia announces $1.1b funding round led by SoftBank Vision Fund, Alibaba

The unicorn is said to be valued at $7 billion after the latest funding round.

Indonesian P2P lender Akseleran eyes $7.5m Series A funding round

The company has secured a capital commitment of $2 million from its existing investors, including a New York-based family office and the parent company of local automotive and finance firm Bintraco Dharma.