According to his LinkedIn profile, Agusta will be in charge of fundraising and investments for Mandiri Capital’s new venture fund.
Mandiri Capital is currently in the market to raise up to $100 million for its second fund and is seeking to tap external investors for the first time. Its previous fund, a $40-million vehicle, was bankrolled by parent Bank Mandiri.
Mandiri Capital’s portfolio companies include names such as Moka, Koinworks and Investree. Last week, the firm led an investment in financial management startup Halofina.
According to Mandiri Capital CEO Eddi Danusaputro, the fintech-focused investor, which had predominantly backed companies for strategic purposes, will now start to look beyond pure fintech for deals through its venture fund and will also have a greater focus on investment returns.
Another exit at MDI Ventures
Agusta parted ways with MDI, the corporate venture capital unit of state-owned telco Telkom Indonesia, last month after a four-year stint. He had joined the firm in 2015 as the head of its Indigo accelerator programme and had worked his way up to become a VP, helping the company record seven exits in the space of four years.
Agusta’s departure followed that of former MDI Ventures CEO Nicko Widjaja, who left in July to join BRI Ventures, a VC firm backed by state-owned lender BRI.
MDI Ventures is yet to appoint Widjaja’s replacement. Like Mandiri Capital, it is seeking external investments for its latest fund, which will be its third vehicle.