By Ardi Wirdana
In an exclusive interview, Stellar Kapital Managing Partner Aditya Keo Santoso talks in depth about real sector investments, the Indonesian startup scene and Stellar’s $25-million second fund.
Grab Ventures, the accelerator and investment unit, will seek minority as well as controlling stakes in tech startups and will be funded entirely by Grab’s balance sheet.
At a time when Asia remains a hotbed for deal flow, an availability of similar kind of businesses crowding the market may lead to higher valuations and even make exits challenging for many players.
Even after its acquisition by Walmart, Flipkart will continue to be run by its board of directors, top executives at both companies said.
Adamas is targeting a $500-million final close for its third fund, Adamas Ping An Opportunities Fund.
Last year, Prestellar had launched a $100-million fund backed by CG Corp Global, Satin Creditcare, Frontline Strategy and N.E. Group.
While payments through cryptocurrency is still illegal in Indonesia, Martin says Muslims can use cryptocurrency to invest in projects that are driving real, productive economic activity rather than just investing in pure speculation.
Riady points to China where e-commerce still makes up only 20% of the total retail market, prompting Alibaba and Tencent to pursue a ‘new retail’ strategy.
Unlike other countries in the region whose ride-hailing market had been dominated by Grab and Uber, Indonesia boasts another player with a sizeable portion of the market share – Go-Jek.
The investment firm had marked the first close of its India Business Excellence Fund-III fund at $147m in September last year.