MDI Ventures, the corporate venture capital (CVC) subsidiary of Indonesia-based telecommunications firm Telkom, has promoted Aldi Adrian Hartanto to vice-president of investments.
Hartanto joined MDI Ventures in August 2018 as head of strategic innovation, before ascending to head of investments five months later and general manager of investments in August 2019.
Prior to MDI Ventures, Hartanto had been head of investments at Mandiri Capital Indonesia, the VC arm of Indonesia-based financial services firm Bank Mandiri, for almost two years from late 2016.
Regarding MDI Ventures’ plans, Hartanto told Global Corporate Venturing: “My new role marks the entry of new phases in MDI Ventures…We will transform from a CVC to a multi-fund VC by managing multiple funds from external [limited partners] for early and growth-stage startups with a country and regional focus.
“Those new external funds will act as feeder funds to maximise Telkom’s main evergreen fund value creation and digital transformation agenda by refocusing the investment thesis more toward later-stage startups globally.
“This new direction will give me a new set of challenges to strengthen our core foundation by integrating and expanding our international operations into Singapore, Silicon Valley and beyond, which will act as multiple front offices to focus on investing and fundraising.
“The Jakarta headquarters will play the role of a centralised back office to support the acceleration of multiple external funds’ formations by attracting multiple high-calibre general partners to set up their own VC funds in collaboration with us as part of the MDI Ventures network.”
The promotion and the reorganisation actvities came in the wake of the departure of MDI Ventures’ interim chief executive, Setyanto Hantoro, in recent weeks.
Photo of Aldi Adrian Hartanto courtesy of MDI Ventures.
