Corporate venture capital (CVC) firm Mandiri Capital Indonesia (MCI) will inject up to Rp 200 billion ($15 million) into four to five startups next year, its president director Eddi Danusaputro told DEALSTREETASIA. The state-owned Bank Mandiri’s investment arm will be investing in financial technology (fintech) firms.
Danusaputro said ticket size will vary between Rp10 billion and Rp 30billion. All startups directly under MCI are those offering fintech services, as allowed by Bank Indonesia. MCI intends to stick to its fintech investing mandate until at least the end of next year, before it starts to venture into other sectors.