Indonesia-based brand aggregator Open Labs has launched a $100m fund to acquire direct-to-consumer (D2C) brands.
Open Labs specialises in providing operational support to brands with high-growth potential and help them accelerate their development, scale their operations and boost their expansion.
The fund will buy stakes of about 51% in portfolio companies, allowing founders to maintain a significant role in the development and operations of their businesses, according to DealStreetAsia.
The vehicle will target local brands generating about Rp 3bn ($21.5m) in annual revenue with positive margins and rapid growth that are among the best in their category, The Jakarta Post has reported. It will be led by Jeffrey Yuwono, Open Labs’ founder and CEO.
The company said that it has recruited a team of experts that will focus on all operational and regulatory aspects of online selling and that it aims to grow its current team to 150 staff, according to Tech in Asia.