Zhexin’s Indonesian arm launches $10m fund, focusing on local companies

Zhexin IT Co’s investment arm Discovery Nusantara Capital (DNC) has announced a $10 million fund to invest in the Southeast Asian gaming industry. The company said it  will specifically focus on Indonesian companies.

“When we look at the Indonesian market, we see many players that are just like the way we were in 2010,” said Irene Umar of DNC, as reported by DailySocial. 

“So we would like to help these players grow–not only by giving funds, but also by transferring accumulated knowledge, experience, and resources for fellow gaming industry players. Through DNC, we want to create a positive impact in Indonesian gaming industry,” she added.

Zhexin IT was established in 2010 as a game maker company with only four staff. Since then, the company has grown into an important player with 260 employees and market capitalization of $4 billion.

Zhexin IT’s parent company is Zhejiang Jinke Entertainment Culture, which announced a partnership with Project Discovery Ltd to create DNC.

Umar said DNC will not set a special criteria for sectors it’s going to invest in. It could be anything from console, PC, to mobile. DNC also does not set a pre-determined amount of investment for each startup.

“We will not be putting a ‘price tag’ on a startup before we have a clear idea on what the founders want to do and how they intend to do it. Every company is unique and deserves its own special attention,” Umar said.

She further revealed that DNC has invested in a game company, and will close a second deal soon. However, she declined to reveal the startups’ identities and the investment amount.

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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.