Indonesia-based conglomerate Sinar Mas Group’s corporate venturing unit, SMDV, is planning to raise a second fund targeting later-stage, local investments, managing partner Roderick Purwana told DealStreetAsia.
Purwana said the fund, raised from the Sinar Mas family, would be “sizable enough to do larger deals, for series B or beyond”.
SMDV has invested in 20 startups, predominantly at the early stage, including payment platform developer Omise, cash transfer service Wallex and mobile learning technology provider Element.
Purwana had previously told DealStreetAsia: “We are not exactly a corporate VC. We are flexible in our investment and focus on areas where there are financial gains to be made.”
