Mandiri Capital Indonesia prepares fresh funds for 4 startups this year
Mandiri Capital Indonesia is focussing on startups in the lending, payments, and enterprise solution verticals
Bank Mandiri’s corporate venture capital firm Mandiri Capital Indonesia (MCI) is back to look for local Indonesian startups to invest in. MCI President Director Eddi Danusaputro told DailySocial that this year the firm will invest in four startups, particularly those working in payments and P2P lending sectors.
In 2017, MCI has invested in eight startups including PrivyID, Moka, Amartha, and Cashlez.
“Our focus this year will still be fintech services, especially those working in the sectors of payments, P2P lending, and enterprise/SME solutions,” he said.
Danusaputro declined to mention the ticket size that will be given to each startup, but he stressed that the firm is looking for startups in the Series A stage.
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Supporting portfolio companies
In addition to investing in the startups, MCI also gives continuous support to its portfolio companies. One example being the two-stage synergy between PrivyID and Bank Mandiri Group. In the first stage, the synergy involved internal partnership between group divisions and its subsidiaries. The second stage involves the customers, particularly in the process of opening a new account.
“This year selected startups will also introduced to Mandiri Group, in which the company will look into how to collaborate to increase the startup’s traction,” Danusaputro said.
Throughout 2017, MCI has invested IDR300 billion (US$20.8 million) in fintech startups. As a venture capital firm backed by Mandiri Group, MCI plays the role of a bridge between investors and startups in the fintech industry.
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The article Mandiri Capital Indonesia Tahun Ini Siapkan Dana Segar untuk Empat Startup was written in Bahasa Indonesia by Yenny Yusra for DailySocial. English translation and editing by e27.
Image Credit: Jimi Filipovski on Unsplash
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