Indonesia: Bank Mandiri launches VC unit, targets investments in fintech

Photo by Vincencia NLS

PT Bank Mandiri Tbk (BMRI), Indonesia’s largest bank in terms of assets, has launched a venture capital business unit PT Mandiri Capital Indonesia (MCI), to invest in promising financial technology (fintech) startups.

“We will nurture incubators, cooperate with other venture capital firms as well as facilitate deal flow (to startups),” Eddi Danusaputro, CEO of Mandiri Capital Indonesia said, at a press conference, on the launch of the venture capital unit.

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