Alpha JWC increases stake in Indonesia’s Kopi Kenangan in ongoing funding round
Early-stage investor Alpha JWC, an early backer of Indonesian coffee chain Kopi Kenangan, has increased its investment in the company as part of an ongoing funding round that also includes founder Edward Tirtanata and other existing investors.
Alpha JWC did not disclose further details of the transaction in a post published on Wednesday.
Tybourne Capital Management and Horizons Ventures have also increased their holdings in Kopi Kenangan. According to Alpha JWC, the latest round has attracted interest from institutional investors.
The investment firm said it chose to raise its exposure as Kopi Kenangan moves into its next stage of expansion, while reaffirming its focus on investing in Indonesia and other markets.
Alpha JWC said Kopi Kenangan recorded 62% year-on-year revenue growth during the first half of 2026. Its earnings before interest, tax, depreciation and amortization (EBITDA) increased 86% in the second quarter. The coffee chain now operates more than 1,500 outlets across seven markets and has added 221 locations so far this year.
Founded in 2017, Kopi Kenangan offers affordable coffee ordered through its app. In 2021, it became Southeast Asia’s first “new retail” food-and-beverage unicorn after surpassing a $1 billion valuation.
The company has raised approximately $240 million to date from investors including Peak XV Partners, formerly the Sequoia Capital India arm. It has continued expanding its footprint across Indonesia as well as several international markets.
