BRI Ventures secures first close of Kiqani fund, and final close of Sembrani at over $25m

BRI Ventures secures first close of Kiqani fund, and final close of Sembrani at over $25m

Nicko Widjaja, CEO, BRI Ventures at the Indonesia PE-VC Summit 2020. Photo: DealStreetAsia

BRI Ventures (BVI), the corporate venture capital arm of the Indonesian state-owned lender Bank Rakyat Indonesia (BRI), has secured the first close of its Sembrani Kiqani fund in June 2022.

It also plans to fully close the vehicle by end-2022, BVI’s founding CEO Nicko Widjaja told DealStreetAsia. The size of the final close is expected to be $50 million, sources told DealStreet Asia.

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