Sinar Mas-backed SMDV has invested in 20 startups from its earlier fund and will target larger deals through its next fund.
Indonesia-based conglomerate Sinar Mas Group’s corporate venturing unit, SMDV, is planning to raise a second fund targeting later-stage, local investments, managing partner Roderick Purwana told DealStreetAsia.
Purwana said the fund, raised from the Sinar Mas family, would be “sizable enough to do larger deals, for series B or beyond”.
SMDV has invested in 20 startups, predominantly at the early stage, including payment platform developer Omise, cash transfer service Wallex and mobile learning technology provider Element.
Purwana had previously told DealStreetAsia:…
