AC Ventures closes first $80 million fund raiser

AC Ventures has closed its first funding round, an $80 million funding. According to AC Venture, the fund is expected to be invested in startup growth to improve the Indonesian economy. With $56 million of already committed, the capital will be invested into 30 Indonesian startups over the next three years, with first checks of up to $3 million going to seed to Series A-stage companies. Experts stated that as Indonesia remained one of the world’s most populated countries, it, hence, looks to tap into the opportunity to expand its coast.

Based in Jakarta with a team of twelve people, ACV is a strategic alliance between AC Ventures and Indies Capital. Working to achieve this ambition, the founding partners include Adrian Li and Michael Soerijadji, who are both founders and managing partners at AC Ventures, and Indies Capital managing partner Pandu Sjahrir. According to press, Sjahrir is also on the board of two Indonesian unicorns, Gojek and Sea. Going forward to seal deals, the alliance has already made investments in nine startups: Shipper, Kargo, Stockbit, Bukuwarung, ESB, Co-Learn, KitaBeli, Aruna and Soul Parking.

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