<article>Jakarta-based venture capital firm Indogen Capital is on the road to raise a $50 million fund, according to two people aware of the development.</article>

Jakarta-based venture capital firm Indogen Capital is on the road to raise a $50 million fund, according to two people aware of the development.
The fundraising exercise is understood to be in advanced stages. The VC firm did not respond to our query on its plans.
The Southeast Asia-focused VC firm claims to be sector agnostic and has so far invested in fintech, marketplaces, e-commerce, retail and real estate, among other sectors. Earlier this year, it announced plans to invest in 10 companies in 2019 to add to a portfolio that includes Malaysian used car platform Carsome, Indonesian travel platform Travelio and Philippine HR tech platform Venteny.
The VC has achieved three exits so far in Spacemob (acquired by WeWork), Clearbridge Health (IPO on Singapore Stock Exchange), and AINO (partially acquired by TIS Corp), and expects two more exits by 2020.
Indogen was set up by five founders. Between them, co-founders Chandra Firmanto and Hendry Willy have 35 years of experience running their respective family businesses across second and third-tier cities in Indonesia. The other three founders are investor Teezar Firmansyah, Tokopedia co-founder and director Leontinus Alpha Edison and Ciputra conglomerate heir Nararya Ciputra Sastrawinata.
According to media reports, the firm’s initial investments were funded by the founders and their family and friends.
Other VC firms raising a Southeast Asia-focused fund include Japan&#8217;s Saison Capital, the corporate venture capital arm of Credit Saison, and South Korea&#8217;s Big Bang Angels. The Japanese CVC firm recently announced the launch of a $55-million early-stage venture fund for Southeast Asia and India, while Big Bang Angels is seeking to raise a $20-million venture capital fund focused on deep tech startups in Southeast Asia.

Its portfolio includes Malaysian used car platform Carsome, Indonesian travel platform Travelio and Philippine HR tech platform Venteny.

Indonesia's Indogen Capital said to seek $50m for new venture fund

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Indonesia's Indogen Capital said to seek $50m for new venture fund

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