Exclusive: Indonesia’s Alpha JWC to start raising $100m fund next year, closes $50m first fund

The Alpha JWC team. Source: Alpha JWC website

Alpha JWC Ventures, one of the most active investors in Indonesia, has closed its first $50-million fund and plans to start raising a nearly $100-million fund next year, co-founder Jefrey Joe told this portal in an exclusive interaction.

Alpha JWC currently manages a $50 million fund for high-quality institutional investors in Asia, US and Europe. The fund invests in startups in fintech, SaaS, Big Data analytics, marketplace and e-commerce.

“With the new fund, Alpha JWC plans to bring more Indonesian companies to the global stage and capture compelling opportunities in backing visionary founders in Indonesia and Southeast Asia,” Joe said.

Alpha JWC had started raising money for its $50-million fund in January 2016 that it recently closed. Currently, the company has more than 50 percent of the capital from that fund to be deployed. It typically invests from seed to Series B stages of funding.

So far, the VC firm has backed 15 companies from its first fund, including co-working space operator Spacemob, fintech startups Funding Societies, UangTeman, OnlinePajak and Sepulsa), marketplace Carro and e-commerce firms StyleTheory and Sale Stock. It made its first exit with the acquisition of Spacemob by US-based co-working space giant WeWork in August this year.

“We believe in Indonesia and we understand the market very well. We have good connectivity with key tech stakeholders in neighbouring countries and beyond. We are confident that Alpha JWC is in a unique position to capture tremendous value and work side by side with our founders to build scalable, sustainable and successful technology companies in Indonesia,” Joe said.

Collectively, Alpha JWC’s co-founders have invested in more than 50 companies globally in the past decade. Co-founder Chandra Tjan was the first investor in two Indonesian unicorns Traveloka and Tokopedia. He had previously co-founded East Ventures, a leading VC firm in Indonesia. The firm claims to have established a strong institutional following with later-stage global investors such as SoftBank and Sequoia Capital.

Alpha JWC says it takes a long-term approach when partnering with founders and strives to be a value-adding partner by helping with recruitment of the right talent, revenue-generating business development, business model and growth strategy, and operations improvement.

Currently, the VC firm has seven investment professionals onboard at offices in Jakarta and Singapore.

Also Read:

VCs accumulate up to $2.5b in dry powder for Southeast Asia in last 12 months

Not enough capital goes to fintech in Indonesia: Alpha JWC Ventures’ Jefrey Joe

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.