Indonesia Impact Fund announces first close; invests in edtech firm Cakap

IIF manager and partner Joshua Agusta with Cakap CEO Tomy Yunus (Photo courtesy of IIF)

Indonesia Impact Fund (IIF), the first ESG-compliant private impact fund managed by Mandiri Capital Indonesia, has announced an undisclosed investment into Cakap — its first investment.

IIF, which has a target corpus of $25 million, also announced on Friday that it has secured the first close of the fund in the fourth quarter of last year. IIF did not disclose the amount of its first close.

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