Indonesia-based financial services firm Bank Central Asia (BCA) has provided Rp 200bn ($14.2m) of fresh capital to corporate venturing arm Central Capital Ventura (CCV), DealStreetAsia has reported, citing a stock exchange filing.
Founded in early 2017 with an initial $15m, CCV targets financial technology developers, in areas including insurance and internet-of-things, big data and deep technology-powered financial services products.
The vehicle typically supplies between $500,000 and $2m per deal and will use the additional money to expand its portfolio.
Jahja Setiaatmadja, president of BCA, said in a statement: “CCV has a strategic role in establishing a collaboration by investing in fintech companies.”
CCV’s portfolio companies include biometric identification software supplier Element, cross-border payment platform provider Airwallex and artificial intelligence technology developer 6Estates.
