Baidu has 'significantly' increased the size of Convergence Ventures' fund, already backed by Bakrie Group, which was sized at $25m as of November 2014.
Internet services company Baidu has provided an undisclosed amount of funding to Indonesia-based venture capital firm Convergence Ventures as part of a strategic partnership, Tech in Asia reported today.
Although he did not reveal the size of China-based Baidu’s investment, Adrian Li, Convergence’s founder and managing partner, said it has’ significantly’ increased the size of the company’s latest fund.
Convergence, then called Convergence Accel, announced in November 2014 it had raised $25m for the fund from limited partners including diversified…
