MDI Ventures, BRI Ventures and Mandiri Capital Indonesia will be tasked with investing in technologies that can modernise state-owned enterprises.

The Indonesian government plans to direct three domestic corporate venture capital vehicles to invest in developers of technology that could help state-owned enterprises (SOEs) to digitise their operations, Nikkei reported on Wednesday.

The three in question are MDI Ventures, BRI Ventures and Mandiri Capital Indonesia, which invest on behalf of telecommunications company Telkom Indonesia and financial services firms Bank Rakyat Indonesia and Bank Mandiri respectively, according to two people familiar with the matter.

Much of Indonesia’s economy is overseen by…

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Robert Lavine

Robert Lavine is special features editor for Global Venturing.