By Ardi Wirdana
The investment in Sociolla is EV Growth’s first publicly announced funding since its official launch in March this year.
Lwarcel has one pulp-producing unit in the state of Sao Paulo with 250,000 annual tonnes in capacity, and the expected value of the deal is around 2 billion reais ($586 million).
Alpha JWC will contribute as much as $5 million in funding for PayPal Incubator. After being selected by PayPal and Alpha JWC senior executives in Singapore and San Jose, startups will receive coaching and mentoring from PayPal executives.
The company says it will be looking to enter the cloud computing services business with its very own KinerjaCloud.
Chinese tech firms, including Lazada’s top investor, Alibaba Group Holding, have poured at least $6 billion into nearly every aspect of Indonesian e-commerce.
The Financial Services Authority, known as OJK, plans to issue new rules by June that will compel fintech firms to be registered with authorities. Unregistered companies won’t be allowed to tap financial markets or raise money from banks.
The Skystar and East Ventures-led round was joined by Gobi Partners, Convergence Ventures, Provident Capital and Central Capital Ventura.
Former NSI Ventures senior investment associate Aditya Kumar and former Northstar Group associate Jonathan Barki are said to be among those that have been appointed to lead the business.
Inalum, which is arranging funding for the deal, already has a “committed” loan for the transaction with Freeport and Rio Tinto for the majority stake in Grasberg.
MNC Studios, a unit of media conglomerate Media Nusantara Citra, plans to sell around 29.98 per cent of its stake.