OCBC NISP Ventura Shifts Target to Non-Fintech Startups

By Editorial Team 11/08/2023
businessman's portofolio
Summary

PT Bank OCBC NISP Tbk's (NISP) venture capital arm OCBC NISP Ventura (ONV) plans to invest more in tech startups.

OCBC NISP Ventura managing director Darryl Ratulangi said that the company is trying to expand its portfolio outside the fintech sector. For example, the company has invested in media and content creation startup USS Network. "We want to reach content creators struggling to access bank financing," he said on Wednesday.

So far, ONV has invested in 15 fintech, proptech, and agritech startups, all of which are linked to Bank OCBC NISP. For example, proptech startup Rukita offers alternative investments in the property sector for Bank OCBC NISP's clients.

Meanwhile, the collaboration with fintech startup Awan Tunai contributed to channeling US$6.56 million in funding to people who cannot access bank financing. "The value of synergies with startups has exceeded our investments in them," he said.

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