Partner content in association with Alpha JWC Ventures

Tracking the impending F&B boom in Indonesia

Photo: Fikri Nyzar on Unsplash

With a series C funding round of close to $100 million, Kopi Kenangan has emerged as Indonesia’s first unicorn from the F&B sector.

It’s a development that brings into sharp focus the opportunities that the F&B business presents to private capital investors scoping out Indonesia in particular and the larger Southeast Asia region in general.

In our report ‘Tapping into Indonesia’s F&B Revolution’, created by DealStreetAsia and Alpha JWC Ventures, you will find some of these opportunities highlighted as well as a comprehensive view of the trends and companies driving the growth of the industry.

A notable trend is Indonesia’s absolute domination when it comes to investments in the F&B sector across Southeast Asia. It accounts for over two-thirds of equity funding raised in the region from January 2012 to December 2021, a little over four times the sum drawn by Singapore at the No. 2 spot.

The growth potential of Indonesian F&B has been unleashed by a number of factors – a younger, more experimental demographic; the rise of restaurant tech which enables the digitalisation journey for even predominantly offline F&B operations, and the imminently realisable goal of putting cuisine from Indonesia — a country with a unique and diverse culinary heritage — on first the regional and then the global map. Finally, the impact of the pandemic which brought with it a sea change in people’s eating and food ordering habits, and saw an increased reliance on food delivery worldwide, has played a vital role in the growth and development of F&B.

However, one of the most important facts to keep in mind is Kopi Kenagan’s unicorn status is not a destination or an end in itself. It marks an important waypoint in a journey that has been ongoing from the late 1940s.

 

If the “conventional era” was dominated by marquee global QSR brands and a few homegrown heroes, the “incubation era” (2015-2020) saw an uptick in delivery which offered inexpensive options while meeting consumer demands for convenience. The “emerging era” (2020-2025) is defined by the industry’s response to the pandemic, and the proliferation of cloud kitchens who create their own brands. Local contenders have come to the fore, offering a contemporary take on traditional flavours and tastes.

The “mature era” (2025 onwards), will be dominated by global expansion as Indonesian brands search for fresh pastures

To know more about the companies, business models and investments at the vanguard of expanding this new category, how they have surmounted the challenges that have characterised each of these eras, and for deep insights into what the future holds, read the full report.

 

Read the Report

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.