Indonesia-headquartered conglomerate Bakrie & Brothers has established a corporate venture capital fund called Quantum Ventures, Tech in Asia has reported.
Bakrie’s activities include construction, provision of building materials, the manufacturing of automotive components and metal parts.
Quantum Ventures is investing out of a $30m fund anchored by Bakrie and is targeting renewable energy, electric vehicle, logistics and financial technology startups.
The fund has already committed over $10m in capital across five portfolio companies including solar project developer Helio, modular construction company Team Module, logistics aggregator Loggis and electric vehicle developer VKTR.
Benny Tjia is heading the vehicle as managing partner having joined in August 2021, in the wake of two years as partner at venture capital firm Indogen Capital.
Photo courtesy of PT Bakrie & Brothers Tbk.
