Telkomsel, the mobile network subsidiary of Indonesia-headquartered telecommunications company Telkom Indonesia, plans to launch a corporate venturing fund by the end of 2018, DealStreetAsia has reported.
Telkom Indonesia already makes investments through MDI Ventures, a unit with offices in Singapore and Silicon Valley, California. It was launched in early 2016 and has $100m to be allocated over a four-year period.
MDI Ventures lists 30 portfolio companies on its website including Japan-based online advertising platform Geniee, which listed on Tokyo’s Mothers Market in December 2017, e-commerce services provider aCommerce and cross-border money transfer platform Instarem.
