AC Ventures, Indies Capital Partners to Expand to Malaysia


Indonesia-based investment firms, AC Ventures (AC) and Indies Capital Partners, announced the signing of a Memorandum of Cooperation with Malaysia-backed fund Penjana Kapital Sdn Bhd (Penjana Kapital). Penjana aims to carry out many cross-border investments and technology transfers. Malaysian Prime Minister Anwar Ibrahim, Malaysian Minister of International Trade and Industry Tengku Datuk Seri Utama Zafrul bin Tengku Abdul Aziz, Indonesian Public Works and Housing (PUPR) Minister Basuki Hadimuljono, and Indonesian Foreign Minister Retno Marsudi attended the signing ceremony.

The memorandum cemented the partnership between Penjana Kapital, Indies Capital Partners, and AC Ventures in exploring co-investment opportunities in Malaysian-Indonesian startups through existing and soon-to-launch investment vehicles. "Through this cross-border cooperation and investment, our company has the opportunity to enter new markets, access new sources of capital and expertise, as well as encourage innovations and growth in both markets," ACV founding partner Pandu Sjahrir revealed in a written statement on Tuesday.

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