Centauri Fund, an investment vehicle jointly formed by telecommunications firm Telkom Indonesia and financial services firm KB Financial Group, has received KRW10bn ($8.5m) from fund-of-funds manager Korea Growth Investment Corporation (K-Growth), e27 has reported.
The $150m fund was launched in December 2020 and focuses on early-stage companies in Southeast Asia with the potential to apply their business models overseas. It initially invests between $1m and $5m in rounds from pre-series A to series B stage.
The fund is managed by KB Financial Group’s KB Investment subsidiary and MDI Ventures, the corporate venturing arm of Telkom Indonesia.
MDI Ventures managing partner Kenneth Li and KB Investment CEO Kim Jong Pil head up the vehicle, which typically invests in the machine learning and financial technology sectors.
Centauri Fund led a $13.5m series A round for Indonesia-based insurance software provider Qoala in April 2020 and contributed to a $6m series A for Singapore-based social commerce platform developer WeBuy in October that year.
More recently, the fund supplied an undisclosed amount of funding for Indonesia-based enterprise resource planning software developer Run System in January this year.