By Ardi Wirdana
Michelin will initially acquire 80% of Jakarta-based Multistrada and launch a tender offer to buy the remaining shares in the Salim Group unit.
The firm has backed Indonesian startups Cermati, Ayopop, TADA, and Jojonomic.
Towards making an evolved ecosystem, there is a need for the various types and classes of investors to come together and collaborate more.
Bukalapak has partnered with the Bandung Institute of Technology (ITB) to launch a new bike-sharing service called BukaBike.
Grab has announced the appointment of Neneng Goenadi as the managing director for Grab Indonesia.
Fintech is a sector that corporate VCs are most bullish about given the opportunities Indonesia’s financial service sector presents.
Unlike its previous fund, which was derived fully from the balance sheet of Bank Mandiri, the new fund will be mostly raised from external LPs.
The latest financing secured from investors including Google, JD.com, Tencent and Mitsubishi values the company at nearly $10 billion.
Localisation is critical for the growth of consumer-oriented sectors in Indonesia, where each city presents a different set of opportunities and challenges, according to panelists at DEALSTREETASIA’s PE-VC Summit 2019 in Jakarta.
The fund could end up raising as much as $250 million.