MDI Ventures, the venture arm of state-owned telecom firm Telkom Indonesia, has teamed up with fintech-focussed VC firm Finch Capital to launch a joint early-stage vehicle targeting a corpus of $40 million.
The fund, called Arise, will be structured as a joint venture between the two firms and will invest in Indonesia-focused tech startups particularly those at the post-seed or pre-Series A stages.
