Telkom Indonesia's MDI Ventures unit has joined KB Investment for a venture fund expected to close at $100m by the end of next year.
KB Investment, a subsidiary of South Korea-based financial services group KB Holding, has formed an investment fund with MDI Ventures, the corporate venturing arm of telecommunications firm Telkom Indonesia, DealStreetAsia has reported.
The companies intend to close the still unnamed vehicle at $100m by the end of 2020, Eric Yoo, a managing partner at KB Investment, told DealStreetAsia.
Founded in 2016, MDI Ventures has a 31-strong portfolio and has scored two exits. The latest move comes after it formed
