Indonesia launches VC fund targeting 'soon to be unicorn' local startups

Indonesia launches VC fund targeting 'soon to be unicorn' local startups

Joko "Jokowi" Widodo. Photographer: Dimas Ardian/Bloomberg

Indonesia, on Wednesday, officially launched a venture capital fund that will target local startups with a valuation of over $200 million.

The Merah Putih Fund, launched by president Joko Widodo — also known as Jokowi — aims to back ‘soonicorns’ or startups that have the potential to soon become unicorns.

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