Indonesia’s MDI Ventures Closes New $500 Million Startup Fund
PT Telekomunikasi Indonesia, the state-owned parent of MDI Ventures, was one of the first to jump onto the VC investing bandwagon in the country, having backed more than 44 startups since 2016.
Photographer: Bay Ismoyo/AFP via Getty Images
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MDI Ventures, the venture capital arm of Indonesia’s largest telecommunications services provider, has closed a new $500 million fund to invest in tech startups focused on the Southeast Asian country.
With more than $790 million in assets under management, MDI Ventures is now the largest corporate venture capital firm in Indonesia, the company said in an emailed statement on Tuesday.