Indonesian VCs move into 2022 with optimism despite warnings of market froth

Photo: Hasyir Anshori /

As far as venture capital investing in Indonesia goes, 2021 was a year for the record books.

With VCs loosening their purse strings, the country added seven new startups — Kopi Kenangen, J&T Express,,, Kredivo, Xendit, and Ajaib — to the unicorn club, and also witnessed the local IPO of homegrown e-commerce firm Bukalapak — a sign that exits are feasible in this market.

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