Indonesia: Kejora Ventures marks first close of $80m fund

Kejora senior team. Photo by Kejora Ventures

Indonesia-focussed VC firm Kejora Ventures announced Wednesday that it has hit the first close of its Kejora Star Capital II Fund, raising about one third of the $80 million target. Post the final close, that is targeted for the year end, this will be the largest vehicles raised by Indonesian VC firms.

This portal had first reported in January last year that Indonesia’s Kejora was on the road to raise its second fund which has a target size of $80 million.

The fund drew strategic investors including Barito Pacific Group, the Charoen Pokphand family and Hubert Burda Media, according to the company.

It has already started investing from this fund – both follow-up and new investments – and has committed capital to several startups from this vehicle including C88Fintech Group, Qareer Group Asia, Etobee, Investree, Pawoon and MoneyTable.

Sebastian Togelang, founding partner of Kejora Ventures, said that he was pleased with the fact that some investors from the company’s Fund I decided to re-invest. It showcases the firm’s commitment to building successful digital companies, he said. Going forward, it will maintain focus in identifying proven business models from developed markets and deploying it in Southeast Asia.

“We are happy with the performance and the growth of our portfolio companies where over 85% of our investments are performing well,” Togelang said.

“At Kejora, our aim is to connect top entrepreneurs with subject matter experts, cutting-edge technology, strong networks of professionals from around the world, thereby opening doors and providing access to investors and strategic partners. With our presence now in Thailand, the Philippines, Indonesia, and Singapore, we are confident that this will enable the startups to scale up at a rapid pace in Southeast Asia,” he added.

Kejora Ventures’ Fund I is currently performing at a 200% IRR, with over 29 investments in its portfolio, the company claimed. The company has recently set up its operations in Thailand, extending its presence from Indonesia, Singapore, and the Phillippines.

Kejora Ventures was started in 2014 by Sebastian Togelang along with entrepreneur Andy Zain. Togelang co-founded FinTech Association and currently acts as the Secretary General of the Indonesia Venture Capital and Startup Association (AMVESINDO). His partner, Zain, is the man behind the first mobile banking and mobile value added service in Indonesia.

Last year, Kejora recruited Reksoprodjo, who brings with him his 26 years of experience in investment banking and principal investment. Coming from a private equity background, Reksoprodjo is expected to inject fresh strategies, discipline, and next-level management skills into Kejora.

Read DEALSTREETASIA’s exclusive interview with Reksoprodjo here.

 

Also Read:

Exclusive: Indonesia P2P lending startup Investree to raise Series A from Kejora

Exclusive: Indonesia VC Kejora Group to raise $80m second fund; gets on board i-banking veteran

Ideabox Ventures matures from accelerator into VC firm

Indonesia: Convergence leads $2.1m funding into Thai startup Helpster

Telstra Ventures leads series B round into financial website operator C88

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.