Indonesia: Telkom, Telstra to jointly invest in in startups in Southeast Asia

Indonesia’s Telkom, through corporate venture arm PT Metra Digital Investama (MDI), has signed an agreement with Australian carrier Telstra’s venture capital arm Telstra Ventures to jointly explore investment opportunities in growing tech startup space in the Southeast Asia.

Nicko Widjaja, president of MDI, and Group Executive Internasional & new business head Telstra Cynthia Whelan signed the MoU in Jakarta last week.

Over the past five years, Telstra Ventures has invested over A$200 million in more than 30 different technology companies. With many businesses and a population of 600 million people in Southeast Asia, including majority of social media users and mobile phone users in the world, Telstra believes that now is the right time to collaborate more closely with Telkom, Indonesia’s largest telco firm, the Australian carrier said in a statement.

There are many opportunities seen in areas like e-commerce, e-health, the internet of things (IoT) and fintech, Whelan added.

“Through our existing joint venture with Telkom, Telkomtelstra, we have seen the pace with which new businesses are reaching scale in response to the digital transformation of the economy and the fact that the middle class in this part of the world is expected to double over the next decade,” she added.

Telkomtelstra, a joint venture established in the previous agreement with Telkom, supplies network application services – corporate computer and telecommunications services – to large companies and enterprises based in Indonesia. The company is 51 per cent owned by Telkom.

Telkom Indonesia Director Indra Utoyo said the recent MoU will give Telkom access to Telstra’s experience and existing relationships in global startup centres in Silicon Valley, China and Israel.

“Today, our continued partnership extends to collaborating on venture opportunities in the region, where we will again leverage both Telkom and Telstra’s deep local expertise as well as experience in global ventures investments,” said Pak Indra.

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.