SBI Holdings invests $10m in Indonesia's Bank Index Selindo

SBI Holdings invests $10m in Indonesia's Bank Index Selindo

SBI Holdings, Inc Monday said it had completed a $10 million investment into PT Bank Index Selindo, a SME-focused commercial bank in Indonesia, for a minority stake. Other details of the transaction were not disclosed.

The Singapore-based venture capital firm did the deal through its wholly-owned subsidiary SBI Ven Capital Pte Ltd, which manages the SBI FMO Emerging Asia Financial Sector Fund Pte Ltd. This fund is in partnership with the Netherlands Development Finance Company (FMO), the world’s largest development bank, and focuses on growth PE investments in the financial services and fintech areas across emerging Asian economies.

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