<article>Newly-launched <a style="color: #000080;" href="http://www.bankmandiri.co.id/">Mandiri Capital Indonesia</a>, the venture capital arm of the country&#8217;s largest banks in terms of assets <a style="color: #000080;" href="http://www.bankmandiri.co.id/">Bank Mandiri</a>, is eyeing investments in the fintech space with its initial capital of close to $37 million ( Rp500 billion).</article>

Newly-launched <a style="color: #000080;" href="http://www.bankmandiri.co.id/">Mandiri Capital Indonesia</a>, the venture capital arm of the country&#8217;s largest banks in terms of assets <a style="color: #000080;" href="http://www.bankmandiri.co.id/">Bank Mandiri</a>, is eyeing investments in the fintech space with its initial capital of close to $37 million ( Rp500 billion).
The firm had earlier indicated that it will target the payments space in Indonesia particularly given the transactions that are taking place through e-commerce and a variety of technology-enabled services like ride-hailing apps.
DEALSTREETASIA caught up with Eddi Danusaputro, CEO of Mandiri Capital, to know more about the new fund&#8217;s investment plans.
Co-founder of Makara Capital, Danusaputro previously worked in the <a style="color: #000080;" href="http://www.pwmgllc.com/">Private Wealth Management Group</a> and the International Private Client Group of <a style="color: #000080;" href="http://www.morganstanley.com/">Morgan Stanley</a>. He has also served as the Head of Strategy and Planning at <a style="color: #000080;" href="https://www.axa-insurance.co.id/en">AXA Indonesia</a> and has also worked as a consultant at <a style="color: #000080;" href="https://www.atkearney.com/">A. T. Kearney</a>. Danusaputro, who earned an MBA from the Fuqua School of Business at Duke University, says, their mandate is to invest across the startup lifecycle right from early to late stages. Edited Excerpts.
<h4>What role do you see Mandiri Capital play?</h4>
 We have several missions. First, seeking necessary investment for Mandiri Capital. Then, we will find potential startups that we can finance, mentor and help them to grow. We will also nurture incubators and cooperate with other venture capital firms in facilitating deal flow to startups.
<h4 class="p3">What kind of startups is Mandiri Capital looking to invest in?</h4>
Fintech is our main target. However, we don’t close the possibilities to invest in non-fintech startups. Initially, we will focus on investing in fintech.
<h4 class="p2">Have you initiated the process of talking to startups?</h4>
There are a number (of startups) that we are assessing, however we cannot disclose at this stage. We have an option to invest in new startups as well as those that are well-developed. We can also invest in startups in later stages. So, we can invest in various stages of the startup life-cycle.
<h4 class="p3">You have an initial fund of Rp500 billion. Do you have an investment target for the quarter?</h4>
Frankly, we haven’t done a quarterly breakdown plan. Our approach is not investing on quarter-to-quarter or monthly basis. It depends on the investment opportunities that are available to us.
<h4 class="p3">Recently, Mandiri Capital signed an agreement with BC Card of South Korea. What is the progress on that front?</h4>
We have set up joint venture (JV) called PT Mitra Transaksi Indonesia which has started operations in January. The company will focus on providing EDC (electronic data capture) for Bank Mandiri. We have a unit that provides similar service called Digital Artha Media (DAM) which will operate separately. DAM will focus more on e-cash transaction business.
<h4 class="p2">Will this venture (with BC Card) become a service provider for Himbara (state owned banks associations that share ATM network)?</h4>
We haven’t discussed this issue in detail yet. However, the establishment of Mitra Transaksi can be an initial step before we provide shared services for Himbara.
<h4 class="p2">The government has issued regulations on VCs and e-commerce. What is your take?</h4>
I think it is a positive move. The government and the regulator have given a lot of attention to the venture capital business. I think, we may see more venture capital firms getting established this year and provide capital to enterprises in Indonesia this year.
Also Read : <a style="color: #ff0000;" href="http://www.dealstreetasia.com/stories/indonesias-bank-mandiri-launches-venture-capital-targeting-fintech-startups-28697/">Indonesia: Bank Mandiri launches VC unit, targets investments in fintech</a>
<a style="color: #ff0000;" href="http://www.dealstreetasia.com/stories/indonesia-mandiri-capital-in-jv-with-s-koreas-bc-card-for-electronic-data-capture-ops-20104/">Indonesia: Mandiri Capital in JV with S Korea’s BC Card for electronic data capture ops</a>
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Newly-launched Mandiri Capital Indonesia is eyeing investments in the fintech space with its initial capital of close to $37 million ( Rp500 billion).

Fintech is our main target: Mandiri Capital CEO Eddi Danusaputro

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Fintech is our main target: Mandiri Capital CEO Eddi Danusaputro

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