Merah Putih Fund's Strategy to Outshine Foreign Investors

By Editorial Team 06/09/2023
Merah Putih fund
Summary

The Merah Putih Fund, a venture capital institution established by several state-owned enterprises, is ready to inject capital into technology startups.

According to the Chairman of the Merah Putih Fund's Project Management Office, Eddi Danusaputro, The venture serves the national agenda of promoting the growth of the domestic technology ecosystem and enhancing Indonesia's position in global innovation.

Merah Putih Fund aims to amplify the presence of local investors in homegrown startups. He mentioned that the Indonesian startup ecosystem has already produced 12 unicorns and two decacorns.

However, ownership of these billion-dollar-valued startups is still predominantly in the hands of foreign entities. "What can be done is to encourage local investors to balance foreign investments," he said Monday.

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