Indonesian gaming co Agate Studios raises $1m from Maloekoe Ventures

Indonesian gaming development company Agate Studios has announced a $1-million pre-Series A round led by local venture firm Maloekoe Ventures, according to a report.

Set up in 2009, Agate Studios will use the funds to grow its presence in two categories: serious games and entertainment games, and come out with additional categories to operate out of.

Even though it claims to be maintaining profitability in those two divisions, Arief Widhiyasa, CEO, Agate Studios, feels that the firm isn’t “growing fast enough and requires strategic capital.”

Previously bootstrapped, the company has developed over 200 titles to date. The games are launched across platforms, including Symbian 3, J2ME, BlackBerry, Flash, and the web.

Founded by a team of 18 people, the company currently employs around 70 to 80 people. Its most well-known title is Football Saga, a web-based football simulation game that lets users play as a newbie footballer.

As for Maloekoe Ventures, this seems to be its first publicly-disclosed investment. Founded by Adrien Gheur, who is also a Managing Partner at Maloekoe Ventures, the firm also lists Indonesian e-commerce company Bizzy and Summit Medical as a portfolio companies.

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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).   

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  • 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. 
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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.