Indonesia's MDI Ventures to make the first close of Merah Putih Fund soon

(Left to Right): Aastha Maheshwari, Correspondent, Indonesia, DealStreetAsia; and Donald Wihardja, CEO, MDI Ventures

MDI Ventures, the venture arm of state-owned Telkom Indonesia, is looking to make the first close of the Merah Putih Fund over the next one month, said its CEO Donald Wihardja at DealStreetAsia’s Indonesia PE-VC Summit 2022.

The Merah Putih Fund, launched in December last year by president Joko Widodo, is being set up in partnership with venture capital units of Indonesia’s top state-owned enterprises (SOEs). The fund will draw capital from state-owned enterprises.

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