Latitude Venture Partners, the Indonesia-based venture capital and business development vehicle affiliated with conglomerate Sinar Mas, has secured $200m in capital, DealStreetAsia reported on Monday.
Founded earlier this year, Latitude targets investments in growth-stage companies that can bring value to Indonesia, where Sinar Mas is also based. Sectors of interest to the firm include financial, industrial, healthcare and artificial intelligence technology.
Sinar Mas already operates a corporate venturing unit known as Sinar Mas Digital Ventures and is a partner in EV Growth along with internet company Yahoo Japan and VC firm East Ventures. The fund’s size was revealed to DealStreetAsia by two industry executives familiar with the matter.
Latitude is headed by Linda Wijaya, formerly CEO of paper producer Asia Pulp and Paper and a shareholder in Sinar Mas, as managing partner. Partner YC Ng was the founder and managing partner of Hawthorn Capital, a firm that made VC investments on behalf of family offices.