Jakarta-based venture capital firm Alpha JWC has deployed more than $100 million in investments from its third fund in the first three months of 2022 with five more deals already in the pipeline, according to a statement.
The early-stage VC had raised $433 million for its Fund III last year from global and regional investors, including IFC, Morgan Stanley Asset Management, and a slew of family offices, exceeding its initial target of $250 million.
Riding on increased investor interest in the country, Alpha JWC pushed its fund’s performance by signing 30 deals in the first quarter of 2022. The VC also witnessed its portfolio companies jointly booking higher revenue growth in the period, compared with the corresponding period of 2021.
“There’s a lot of global investor interest in Indonesia’s digital economy across both Tier-1 and Tier-2 cities, however, Alpha JWC continues to be a trusted partner for more high-potential startups looking to make a legacy impact throughout the region,” Jefrey Joe, Alpha JWC co-founder and general partner, said in the statement.
Around half of the VC’s new deals made through its Fund III are seed or pre-seed investments. Alpha JWC Ventures, whose ticket size starts at $100,000, is expected to sign five more early-stage fundings soon.