Mandiri Capital, the venture capital arm of Indonedia-based financial services firm Bank Mandiri, is looking to raise between $50m and $100m for its next fund, DealStreetAsia has reported.
The capital will largely be sourced from external limited partners, CEO Eddi Danusaputro told DealStreetAsia, adding that the unit intends to reach a first close in the first half of 2019. It will invest at series A and B stage, up from the first fund’s seed-to-series A focus.
Bank Mandiri set up the unit in 2015 with $36.5m of capital from its own balance sheet. Mandiri Capital’s portfolio companies since then include point-of-sale technology provider Moka, peer-to-peer lending platform KoinWorks and digital signature technology startup PrivyID.
