Over the last few years, the Indonesian startup scene has attracted a major influx of capital from foreign investors. This [trend] is generally beneficial for the ecosystem but should prompt local players to collaborate more with each other, according to Sebastian Togelang, founding partner of Indonesian VC Kejora Ventures.
“If the VCs in the region work together, it would build an ecosystem that is relatively stable. This would balance out the money coming in from outside,” Togelang said in an interview with DEALSTREETASIA.
Kejora itself is currently partnering with South Korean VC Intervest to form a joint fund with a corpus of $100 million to invest in “proven, later-stage companies that have stable revenue”.
While Kejora continues to deploy from the fund with Intervest, which counts as its third fund, Togelang said the firm is preparing yet another vehicle, which is likely to be an early-stage fund.
This would take Kejora back to familiar territory, having enjoyed success in early-stage investments through its first fund, which saw it back companies that have gone on to grow and raise bigger funds such as fintech firms Investree and C88.