Indonesia's VC deal numbers are in line to reach a new high this year, boosted by homegrown state-owned enterprises and interest from Asian corporates.
Indonesia’s startup ecosystem has boomed in the past two years and continues to defy gravity despite the global downturn, partly due to the willingness of the country’s state-owned enterprises (SOEs) to pursue corporate venturing.
The SOEs are takig part in some sizeable rounds. SiCepat’s $170m series B round in March 2021was backed by telecommunications firm Telkom Indonesia’s MDI Ventures unit and financial services firm Bank Rakyat Indonesia’s BRI Ventures fund was part of a $144m round for business finance…
