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AC Ventures closes its new $210M Indonesia-focused fund
In the middle of a long funding winter, AC Ventures’ latest news will give Southeast Asian startups hope. The Jakarta, Indonesia-based venture firm In the middle of a long funding winter, AC Ventures’ latest news will give Southeast Asian startups hope.The Jakarta, Indonesia-based venture firm announced today it has raised $210 million, finishing the final close on its fifth fund, called ACV Fund V. Limited partners include the World’s Bank’s IFC and investors from the United States, the Middle East and north Asia. More than 50% of the fund came from returning LPs and institutional capital makes up over 90% of its total.
AC Ventures co-founder and managing partner Michael Soerijadji says Indonesia’s economic growth is driven in large part by private consumption, plus manufacturing, services and exports. “We believe there’s substantial business potential that can tap into these changing patterns and offer unique, value-driven solutions to Indonesian consumers which can not only displace incumbents but drive new markets as well,” Li says. AC Ventures works with its startups by supporting their business development and strategic partnerships, giving them advice on finding talent, government relations, financial planning and fundraising.
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