Intudo, Indonesia's only venture capital firm, announced that it has raised $125 million across two investment funds. That includes $75 million in Intudo Ventures IV and $50 million in a separate fund that invests in downstream natural resources and renewable energy.
Intudo said Fund IV will invest in Indonesian startups that take advantage of Indonesia's location, digital advancements and growing middle class population, namely the country's startups in sectors such as consumer products, aquaculture, horticulture, commercial distribution, regulation and regulation. He said he would invest in companies that leverage their strengths. and deep tech startups. Another fund will be the first to invest in natural resources and renewable energy, leveraging Indonesia's strong position in the global nickel and cobalt market.
Identifying areas where Indonesia is competitive is essential for the country on a global scale, Intudo founding partner Eddie Chan told TechCrunch.
“In Taiwan, semiconductors are being introduced to the world. In Japan, electronics used to be popular. In Israel, cybersecurity is important. In India, we have SaaS. In South Korea, we have K-POP. In Indonesia, we have shrimp farming ( We need to find more gold in aquaculture (aquaculture),” Chan said.
Intudo typically writes checks for $1 million to $10 million and targets a portfolio of 14 to 18 Indonesian companies, with the aim of buying large stakes in each company through Intudo Ventures IV. Mr. Chan said. He explained that in a typical Series A round, the company invests $3 million to $5 million for a 20% to 30% stake.
“I think winning in Southeast Asia requires small fund sizes and large ownership…In contrast, the market is currently dominated by many peers with $200 million or $300 million in capital. , the ownership target is only 10% to 15%,” he said.
“Many of the funds in the market are focused on Indonesia, but we are very clear that we are specialized only in Indonesia. 100% of our fund’s investments are in Indonesia,” says Intudo. said founding partner Patrick Yip.
Yip added that the company is finalizing a number of transactions that it plans to announce in the coming months.
Intudo said it limits each limited partner's investment to 10% of the fund's total amount to ensure fair treatment of all LPs and maintain the principle of independent investment.
The new fund comes three years after the firm closed its third fund with $115 million. Since then, the company appears to have expanded its LP base, receiving investment from institutions and family offices in the US, Asia, Europe and the Middle East, including Netherlands-based Orient Growth Ventures and Singapore-based Black Kite Capital. . The company said it also has investments from more than 20 global funds and managing partners, 15 billionaires listed in Forbes magazine and their associated businesses, and more than 30 influential families in Indonesia. .
“80% of our deals are followed by our global LP base in South Korea, Silicon Valley, Europe and the Middle East,” Chan said.
Before founding Intudo in 2017, Yip worked at a private equity firm, while Eddie Chan was a lawyer and ran his own startup. The company has a team of 12 people and manages more than $350 million in assets.
Intudo has invested from its new Natural Resources Fund in Indonesia-based CarbonEthics, which develops technology-enabled natural climate solutions.
