Indonesia’s Kejora Ventures hits final close for second fund

Kejora senior team. Photo by Kejora Ventures

Indonesian venture capital firm Kejora Ventures has hit the final close of its second flagship fund, Kejora Star Capital II, its founder and managing director Sebastian Togelang told this portal.

Togelang refused to disclose the exact amount for the final close but confirmed that it was slightly below the $80-million target as this portal had reported in August.

“We decided to close it because we already have a third fund – the $100 million fund,” he said, referring to Kejora’s joint fund with South Korean counterpart Intervest, which marked its first close in December, raising more than half of the targeted size, at $60 million.

Kejora Star Capital II, which hit its first close at a reported $21 million last year, targets investments in the fintech, HR, healthcare, media, logistics and education sectors.

While Kejora will continue to invest in seed-stage startups, primarily supplied by its Ideabox accelerator programme, the larger second fund will allow it to top up on its successful early bets, and even make fresh investments in growth-stage startups.

As of August, Kejora said the second fund has already backed 8-9 companies, including follow-on investments in the Series B round of P2P lender Investree and Series C round of fintech firm Cekaja.com.

With its second fund now officially closed, Kejora can start to fully focus its fundraising efforts on its $100-million fund with Intervest, which aims to close at the end of this year.

The fund, which has already received investments from a number of limited partners including Korea Venture Investment Corp, aims to back Korean startups that are looking to expand to Southeast Asia, as well as Southeast Asian startups with some “Korean perspective”.

Both of Kejora’s second and third funds mark a departure from the investments made from its first fund, which Togelang said has now been fully deployed. The first fund, the total corpus for which remains undisclosed, focused on early-stage companies and counts Pawoon, Sicepat Express and Etobee among portfolio companies.

Also Read:

Kejora, Intervest to close $100m Southeast Asia fund by 2018-end

Thailand’s Singha invests in Temasek’s Vertex, Kejora’s venture capital funds

Fintech startup C88 raises Series C extension from Korea Investment Partners

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.