Indonesia's Merah Putih fund secures first close at $300m

Photo: Nick Agus Arya/Unsplash

Indonesia’s Merah Putih fund, set up by the government in partnership with the venture capital arms of some state-owned enterprises, has secured its first close at $300 million, DealStreetAsia has learnt.

The fundraising milestone comes less than six months after the government launched the vehicle in December last year.

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