Indonesia's MDI Ventures, Finch Capital make first close of joint $40m fund

MDI Ventures, the venture arm of state-owned Telkom Indonesia, and fintech-focused venture capital (VC) firm Finch Capital have jointly made the first close of their $40 million fund, two sources familiar with the development told DealStreetAsia.

The two firms have forged a joint venture to create Arise, a fund that is slated to invest in Indonesia-focused tech startups, particularly those at post-seed or pre-Series A-stages.

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