Intudo Ventures, an Indonesian venture firm, has closed its second fund at $50 million. Intudo Ventures II LP will invest in Indonesia-focused companies. The fund’s limited partners include Founders Fund, Wasson Enterprise and WiL: World Innovation Lab.
Indonesia-only independent venture capital firm Intudo Ventures today announced the closing of Intudo Ventures II, LP, a US$50 million Indonesia-only early-stage venture capital fund dedicated to investing in Indonesia-focused companies capitalizing on the rapid growth of private consumption and rising middle class in the country.
Notable LPs for this fund include:
Founders Fund: San Francisco-based venture capital firm;
Wasson Enterprise: US-based family office of former Walgreens Boots Alliance CEO Greg Wasson;
WiL: World Innovation Lab, a US-Japan VC fund;
President (BVI) International Investment Holdings Ltd: investment arm of Taiwan-based international food/beverage and retail conglomerate Uni-President Enterprises Corp.
CTBC Group: Taiwan-based global financial holding company and more than twenty of the most influential Indonesian conglomerate families, among others.
Intudo Ventures is led by Founding Partners Patrick Yip and Eddy Chan. The firm takes a bold, differentiated approach to the market and strictly adheres to the following requirements: Indonesia-only, independent operations, early-stage and concentrated portfolio.
Intudo Ventures utilizes an Indonesia “beach-head” strategy, connecting portfolio companies with high quality international capital and curate access to the market; while also working with leading Indonesian groups and local online/offline distribution partners to create in-market growth opportunities for portfolio companies.
Disclosable deals from Intudo’s first fund include: BeliMobilGue.co.id, CoHive, Xendit, Ride Jakarta, Nalagenetics, Dana Cita, Oriente, EMQ and ARTOTEL.
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The Intudo Ventures Approach:
Indonesia-only: Intudo Ventures takes an Indonesia-first approach to investment. Intudo Ventures only invests in companies that are focused on Indonesia at an early-stage
An Independent Firm: Intudo Ventures is an independent venture capital firm. Every LP is capped at no more than 10% of the total fund size to ensure that Intudo Ventures acts as an independent firm that can invest in the most return-driven manner.
Concentrated portfolio approach: Intudo strives to take lead/co-lead positions in almost all companies the firm backs, anticipating to build a concentrated portfolio of 12-16 companies for Fund II, with an initial investment amount of US$500K-US$5M into each company. The firm focuses on Series A investments, while leaving room for opportunistic seed and Series B investments in founders and companies with break-out potential.
Value Add Driven: Intudo aims to be SMART CAPITAL for companies. By taking significant stakes in companies, Intudo aims to create additional value through the firm’s resources and network. For portfolio companies, Intudo is able to provide assistance on business development/strategy (with a focus on in-market distribution), human resources & recruiting, capital raising and public relations.
Long-term relationship building: Intudo Ventures is a people-driven firm. As such, Intudo strives to develop both new and long-standing relationships with a wide range of stakeholders in and outside of Indonesia.
Intudo hopes to be the first firm that entrepreneurs think of when they decide to start their Indonesia-focused company. This is part of the firm’s S.E.A. Turtles strategy (Southeast Asian overseas returnees), where Intudo works with alumni networks of the leading universities and companies globally to identify talent to found companies, fill positions in our existing or potential portfolio companies or help place such talent into tech unicorns/decacorns, corporations or top consulting firms/investment banks/VC/PE/hedge funds. The firm’s partners also visit top university campuses in the US on a regular basis to meet with current students and alumni associations.
Risk-mitigated investment strategy: Intudo’s LP and strategic partner base equips us to meet a wide range of needs and tackle complex issues:
1) By working with the leading local Indonesian groups and online/offline distribution partners, the firm is able to address business development/strategy (with a focus on distribution, government relations and localization challenges);
2) Through LPs that founded top VC/PE/hedge funds globally, the firm is able to shore up follow-on capital risks;
3) Through LP/advisor network and partnerships with alumni networks & student associations, the firm is able to identify top founders and place talent in senior management roles and fill key positions;
4) With a diverse LP base-including several unicorn/decacorn founders and executives and firm’s collective knowledge, Intudo can provide top-notch advisory support for the entrepreneurs the firm backs.