By Ardi Wirdana
The company is currently in discussions with a number of potential new backers – most of them non-VC investors – while existing backers are expected to top up in the upcoming round.
Under the MoU, QIA will invest the money in a series of ongoing projects within Indonesia’s top 10 priority destinations, more famously known as the “10 New Balis”.
The debt capital will fund a new 2,000-hectare state-of-the-art industrial estate in Subang, West Java
SBI will focus on Series A and B funding for fintech companies in Indonesia and may also look at AI and blockchain.
The combined assets of the two banks would amount to around $12 billion.
Kejora Star Capital II, which hit its first close at a reported $21 million last year, has already backed around 8-9 companies so far.
Rokan has been a focus area for Chevron, which asked Indonesia earlier this year to extend its operating contract beyond 2021.
Koinworks, which started operating in the P2P lending space in 2016, raised an angel funding round in 2017.
The OJK approved MUFG’s planned purchase of Asia Financial’s stake of 20.1 per cent in Danamon.
Mandiri Capital Indonesia, Persada Capital, Endeavor Catalyst, 9F Fintech Holdings Group and previous backer Kejora Ventures also joined the round.