Mandiri Capital Indonesia looks beyond home ground to fund startups

Aldi Adrian Hartanto. Mandiri Capital.

Leading the venture capital wave among banking institutions in Indonesia, Mandiri Capital Indonesia (MCI), the VC arm of the country’s largest lender by asset Bank Mandiri, says it is now looking to source startups outside Indonesia, with Singapore the most likely target.

“It would definitely be Southeast Asia. At the moment we haven’t really looked at Malaysia and the others, but Singapore is somewhere we have looked at,” MCI investment head Aldi Adrian Hartanto told DEALSTREETASIA.

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