AC Ventures to top up existing investments following $205m final close of third fund

AC Ventures is led by (left-right) Adrian Li, Pandu Sjahrir, and Michael Soerijadji who all have entrepreneurial backgrounds.

AC Ventures (ACV), a Jakarta-based early-stage investor, announced on Wednesday that it has secured the final close of its third fund at over $205 million, to back Indonesia’s startups.

The World Bank Group’s International Finance Corporation (IFC) and Abu Dhabi Developmental Holding’s venture capital platform DisruptAD are some of ACV Fund III’s institutional backers. The fund brings ACV’s total assets under management to over $380 million, it said.

ACV had initially targeted $80 million for the fund before upsizing it following increased interest from institutional investors seeking venture exposure to Indonesia.

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