The Biomedical Fund will invest in Indonesian health tech and biotech startups.
Photo courtesy of FreePik
Living Lab Ventures, a corporate venture subsidiary of Indonesia-based conglomerate Sinar Mas, has launched a new fund that will finance startups targeting Indonesia’s health tech and biotech sectors. The firm will also focus on supporting research and biobanks.
The Biomedical Fund targets early-stage startups in diagnostic technology, health data management and telemedicine platforms. It will provide financing between $100,000 and $1m.
Living Lab Ventures was founded in 2022 as the investment arm of Sinar Mas’ real estate subsidiary, Sinar Mas Land. The firm invests in companies in Southeast Asia. It has 17 companies in its portfolio. The firm has injected new capital into 27 startups focusing on smart technologies, digital health and mobility. Investments include Social Bread, Paper.id, and Traveloka.
“We are very enthusiastic about launching the Biomedical Fund. Through the financial support and mentorship provided, we intend to speed up the growth and development of startups in the biomedical sector,” said Bayu Seto, partner at Living Lab Ventures, in a release.