Indonesian family-owned businesses spot big promise in tech startups

(From left to right) Alvin Sariaatmadja, CEO of Emtek Group; Jesslyne Widjaja, Executive Director at Golden Agri Resources; John Riady, CEO of Lippo Karawaci Tbk; Anthoni Salim, CEO of Indofood Sukses Makmur Tbk

Indonesia’s prominent family-owned conglomerates are increasingly evincing interest in emerging technology businesses as they gear up to grab a bigger slice of the burgeoning startup ecosystem in the country.

They are now preferring to dole out cheques and pick up minority stakes in startups compared to earlier times when one would typically prefer control deals, said experts tracking the sector.

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