AC Ventures Backs Indonesia’s Digital Future With $80M Startup Fund
Fueling Innovation in Southeast Asia’s Fastest-Growing Market
As Indonesia’s digital economy continues its rapid expansion, AC Ventures has announced the first close of its \(80 million ACV Capital III L.P. fund, with \)56 million already committed. This strategic move positions the firm to capitalize on Indonesia’s thriving startup ecosystem, which benefits from the nation’s:
- 270+ million population (world’s 4th largest)
- Rapidly growing internet penetration
- Burgeoning e-commerce sector
- Untapped potential in fintech and logistics
Investment Strategy and Focus Areas
The fund will deploy capital across 30 promising Indonesian startups over the next three years, with initial investments ranging up to $3 million for seed to Series A-stage companies. AC Ventures will concentrate on four key sectors:
- E-commerce platforms
- Financial technology solutions
- MSME-focused services (Micro, Small & Medium Enterprises)
- Digital media-enabled services (including education and healthcare)
Leadership and Portfolio Highlights
AC Ventures represents a powerful alliance between AC Ventures and Indies Capital, led by:
- Adrian Li (Founding Partner, AC Ventures)
- Michael Soerijadji (Founding Partner, AC Ventures)
- Pandu Sjahrir (Managing Partner, Indies Capital; Board Member at Gojek and Sea)
The firm has already made strategic investments in nine innovative startups:
- Shipper (e-commerce logistics)
- Kargo (trucking marketplace)
- Stockbit (investment platform)
- Bukuwarung (MSME digitization)
- ESB (restaurant management)
- Co-Learn (edtech)
- KitaBeli (social commerce)
- Aruna (fisheries marketplace)
- Soul Parking (parking solutions)
Beyond Capital: Value-Added Support
AC Ventures differentiates itself through comprehensive portfolio support:
✅ Business development guidance ✅ Executive recruitment assistance ✅ Fundraising strategy for later rounds ✅ AC Academy founder education program (covering growth hacking, fundraising, etc.)
Market Opportunities and Pandemic Acceleration
Despite launching fundraising before COVID-19, AC Ventures sees the pandemic as an accelerator for digital adoption in Indonesia. Notable examples include:
- BukuWarung: Rapidly expanded digital payments for neighborhood shops
- ESB: Saw increased demand as restaurants shifted to online orders
“Indonesia’s unique market characteristics create exceptional opportunities,” noted Adrian Li. “With 600 inhabited islands creating logistical challenges and a retail market still in early digital transformation, startups have tremendous room to innovate and scale.”
The firm remains bullish on Indonesia’s long-term potential, citing the country’s massive population, growing middle class, and increasing smartphone penetration as key drivers for tech-enabled services across all sectors.
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