Indonesia’s state-owned Bio Farma, MDI Ventures set up $50m fund

Indonesian state-owned pharmaceutical company Bio Farma is collaborating with MDI Ventures, a venture capital firm owned by Telkom Indonesia, to launch a $50-million bio-health fund to invest in biotech startups.

Bio Farma will be a limited partner in the fund committing to invest $20 million. “The total corpus of this fund is $50 million,” Pahala Nugraha Mansury, vice-minister for state-owned enterprises (SOEs), told DealStreetAsia

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