BRI will be the third state-owned firm to set up a venture capital fund, after Telkom Indonesia and fellow lender Bank Mandiri.
The round was joined by new investors Convergence Ventures and FreakOut as well as existing backers 500 Startups, Ideosource and Braavos Ventures.
The JV partners s have made an initial investment of $50 million but are expected to inject as much as $200 million to ramp up its operations.
GOJEK said that the increase in tariff enforced by the government for app-based motorcycle taxis has had an adverse impact on its passenger orders.
Indonesian coal tycoon Garibaldi Thohir has invested in Muslim app Umma, founded by Northstar Group’s Indra Wiralaksmana.
Other players in the space have been restricted to relying on angel investors and capital grants as VCs still seem hesitant to place a bet on the indu
The capital raised will be used for geographical expansion, as the company plans to foray into two new regional markets this year.
The partnership will enable iflix to procure 10,000 hours of content from MNC’s top programmes for immediate exclusive streaming on iflix.
Following the transaction acquisition, 95 per cent of QBE’s shares will be held by Great Eastern General Insurance Limited, while the remaining 5% w
The long-awaited regulation was implemented in Jakarta (Jabodetabek), Bandung (West Java), Yogyakarta, Surabaya (East Java) and Makassar (South Sulawe
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