Indonesia-based conglomerate Lippo has contributed capital to a $150m venture capital firm called Venturra Capital that will act as the successor to its Lippo Digital Ventures corporate venturing unit.
Venturra has been founded by John Riady, a director of Lippo, together with Stefan Jung, the founder and former managing partner of e-commerce group Rocket Internet’s Southeast Asia subsidiary, and Rudy Ramawy, previously the country director for Google Indonesia.
Though entirely independent, Venturra is in effect acting as the latest incarnation of Lippo Digital Ventures, and has taken on the unit’s venture capital portfolio. The newly launched firm has raised $150m for the fund and Lippo is the largest investor Jung, told Tech in Asia yesterday.
“We have the full $150m,” Jung said. “The fund is closed and we have the full commitment. This means the limited partners cannot get out of that commitment. It is not a target we want to reach, it has already closed.”
The firm has already made 10 investments across Southeast Asia in the past three months, Jung added, though he did not reveal the identities of the startups in question.
Venturra is targeting consumer-driven Indonesia and Southeast Asia-based companies developing e-commerce, financial, healthcare and education technology that are raising cash at series A and B stage, and will invest between $2m and $5m in each one.