Intudo Ventures, an Indonesia-focused venture capital firm, raised $20 million in its debut fund as it seeks to capitalize on rising consumption in the world’s fourth most-populous nation.
The fund closed after doubling its initial target of $10 million, said Patrick Yip, a Jakarta-based founding partner of Intudo. Its strategy is to take equity and a board seat in about a dozen startups in the consumer, health, financial services and education sectors.
