The cookies is used to store the user consent for the cookies in the category "Necessary". This cookie is set by GDPR Cookie Consent plugin. The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional". The cookie is used to store the user consent for the cookies in the category "Analytics". These cookies ensure basic functionalities and security features of the website, anonymously. Shipper, another ACV investment, offers a platform to help sellers manage multiple shipments through different providers at once.Necessary cookies are absolutely essential for the website to function properly. For example, logistics is very fragmented in Indonesia, because it has 600 inhabited islands. This gives startups plenty of room to innovate. Internet penetration and online payments have grown a lot over the past five years, but e-commerce still accounts for a tiny fraction of Indonesia’s overall retail market. Its also launched programs like AC Academy to coach founders on skills like growth hacking and fundraising. It will focus on e-commerce, financial tech, startups that serve MSMEs (or micro, small and medium-sized enterprises) and digital media-enabled services, which Li told TechCrunch could encompass sectors like education and healthcare, in addition to entertainment.ĪCV also plans to work closely with the companies it invests in, guiding them through business development, key executive hires and later rounds of funding. The alliance has already made investments in nine startups: Shipper, Kargo, Stockbit, Bukuwarung, ESB, Co-Learn, KitaBeli, Aruna and Soul Parking. Sjahrir is also on the board of two Indonesian unicorns, Gojek and Sea. ACV’s founding partners are Adrian Li and Michael Soerijadji, both founders and managing partners at AC Ventures, and Indies Capital managing partner Pandu Sjahrir. 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.īased in Jakarta with a team of twelve people, ACV is a strategic alliance between AC Ventures and Indies Capital. The firm announced the first close of the fund today, with $56 million already committed. AC Ventures wants to tap into that with its $80 million ACV Capital III L.P. As one of the world’s most populated countries, with a fast-growing internet economy, Indonesia offers plenty of opportunity for startups.
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