Indonesian property developer Sinar Mas Land has teamed up with East Ventures, Redbadge Pacific and Prasetia Dwidharma to set up a fund that will invest in startups developing smart city solutions, according to a press release.
The vehicle – called Urban Gateway Fund (UGF) – will focus on investing in six areas of urban living technology – mobility and transportation, property technology, data analytics and artificial intelligence (AI), omnichannel retail, sustainable resources management, and smart city tech.
