Indonesia: Bank Mandiri’s new VC to launch ops with $36m cap; bets on online payments space

Indonesia state-owned bank PT Bank Mandiri Tbk (BMRI) has set up its venture capital firm, Mandiri Capital with an initial capital of Rp 500 billion  ($36.90 million). Mandiri Capital, which is set to launch operations next year, will prioritise investing in startups that provide innovative payment services relevant to e-commerce.

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