The Indonesian state-owned bank has set up a corporate venturing team and will reportedly provide $70m to $100m for investments.
Indonesia-based financial services firm Bank Rakyat Indonesia (BRI) is set to form a venture capital unit that will be equipped with between $70m and $100m, DealStreetAsia reported today.
BRI will build the vehicle around an existing VC firm, Bahana Artha Ventura (BAV). It had originally bought a 35% stake in BAV in late 2017 before increasing its share to 97.6% in December 2018, and it acquired a regulatory licence from Indonesian regulators last month.
BRI Ventures will invest in startups…
