SOEs to Invest More in Digital Startups

crowdfunding
Summary

Minister of State-Owned Enterprises (BUMN) Erick Thohir revealed that several state-owned venture capitalists had invested in 336 startups, some of which are soonicorns or unicorns. Among notable state-owned venture capitalists are Mandiri Capital Indonesia, BRI Ventures, MDI Ventures, and, most recently, BNI Modal Ventura. In August, the Merah Putih Fund, an investment platform for digital startups, secured a permit from the Financial Services Authority. "Through the Merah Putih Fund, we invest in startups as long as the founders are Indonesian, the company operates in Indonesia, and pays Indonesian taxes. Of course, the priority is to go public in Indonesia," Erick said at the inauguration of 2022 BUMN Startup Day on Monday.

BUMN Startup Day is SOEs Ministry's initiative supported by SOEs and state-owned venture capitalists. The aim is to facilitate the exchange of ideas, inspire, encourage SOE collaborations, and curate startups in the early and growth stages.

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