Bank Rakyat Indonesia has put $100m into BRI Ventures, which could receive up to $250m and which will be headed by ex-MDI Ventures CEO Nicko Widjaja.
Indonesia-based financial services firm Bank Ragyat Indonesia (BRI) aims to provide up to $250m for the first fund to be managed by its venture capital subsidiary, BRI Ventures, Bloomberg reported today.
BRI Ventures has been equipped with an initial $100m in capital, a figure BRI said it could eventually increase to $250m. It will operate as an evergreen fund and will invest at growth and late stage.
The vehicle is being managed by Nicko Widjaja, formerly chief executive of MDI…
