State-run Bank Negara Indonesia is planning to launch a corporate venture capital fund to invest up to $50m in fintech startups including mobile wallet provider Finarya.
Indonesia-based financial services firm Bank Negara Indonesia (BNI) plans to establish a corporate venturing unit to invest in financial technology developers, DealStreetAsia reported yesterday, citing finance director Anggoro Eko Cahyo.
The fund will have between Rs 600bn and Rs 700bn ($43m to $50m) to invest and is expected to formally launch later this year, though the firm is yet to decide whether it will acquire an existing venture capital firm to form the unit.
BNI was originally reported in August…
