Indonesia-based telecommunications firm Telkom Indonesia and KB Investment, part of South Korea-headquartered financial services firm KB Financial Group, agreed yesterday to jointly form a $150m investment fund.
Centauri Fund will operate out of offices in Jakarta, Indonesia and Seoul, South Korea, and will invest across Southeast Asia, targeting emerging companies with the potential to expand their business models across the globe.
The vehicle is expected to to raise $150m in capital by the end of this year, and to begin investing in early 2020. It will commit $1m to $5m per deal, participating at pre-series A to series B stage.
Sectors under consideration include e-commerce, big data and financial technology. Telkom is participating through corporate venturing unit MDI Ventures.
Reports that MDI Ventures and KB Investment were collaborating on an investment vehicle first emerged in September this year, when the units were said to be targeting $100m for a fund that would invest in companies bringing technological innovation to traditional industries.
