Kejora Capital, SBI Holdings launch joint $30m early-stage fund

Southeast Asian venture capital firm Kejora Capital and Japanese financial conglomerate SBI Holdings on Wednesday announced the launch of a $30 million joint venture fund that will make early-stage investments in Indonesia.

The fund, dubbed SBI Kejora Orbit Fund I, is expected to hold its first close by June 30. It has secured capital commitments from family offices, high net worth individuals, corporations, and other institutional investors across Indonesia, Singapore, Japan, and Europe, according to a statement.

The Orbit Fund will make investments between $200,000 and $3 million in selected startups in technology segments including supply chain, education, medical, consumer goods and retail, agriculture, financial technology, and digital media.

This is SBI Holdings’s first Indonesia-focused fund. The Japanese financial services major has been investing in the archipelago through a regional investment vehicle since 2011. Its portfolio includes Tokopedia, Investree, Ralali, Amartha and Taralite.

“Since our first co-investment with Kejora more than three years ago, we have continuously cemented our confidence in the Indonesian technology sector through investments and partnerships. As such, we are thrilled to renew our commitment to the technology asset class in Indonesia with the launch of Orbit Fund,” said SBI Holdings president and CEO Yoshitaka Kitao.

The companies on Wednesday announced the appointment of Billy Boen as director of the Orbit Fund. The fund has also appointed Shunichi Keida, alongside Leon John Hermann, Yudi Anugrah, and Richie Wirjan.

Kejora oversees more than $380 million in assets under management across three funds, namely early-stage funds Kejora Star Capital I (2014 vintage) and Kejora Star Capital II (2017 vintage), and a growth fund, InterVest Star Southeast Asia Growth Fund I (2018 vintage), in partnership with South Korea’s InterVest.

The VC firm has backed 35 companies across Indonesia, Malaysia, Singapore, Thailand, the Philippines, Korea, and Hong Kong.

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.

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.