Fundnel & BRI Ventures partnering to establish new $50 M+ fund for Indonesian start-ups
Fundnel Group, a Malaysian online marketplace for alternative assets in Southeast Asia, has teamed up with BRI Ventures to form the BVI-Fundnel Secondaries Fund, which will target Indonesian growth-stage companies.
The new fund aspires to establish a portfolio of high-growth firms via a non-traditional investment method that will benefit founders, workers, and early supporters.
Global investors will be able to invest in Indonesia’s growth-stage firms as a result of this relationship.
Employees will be able to acquire secondary liquidity for their stock options through Fundnel and BVI’s collaboration with entrepreneurs.
The BVI-Fundnel Secondaries Fund anticipates receiving at least $50 million in contributions.
Increased smartphone penetration, mobile-first development, and growth of technology, media, and telecoms infrastructure in rural regions are predicted to boost Indonesia’s digital economy by 18.9%, from US $44 billion in 2020 to US $124 billion in 2025.
Over the last three years, Fundnel has received more than 1,000 orders totaling $22 billion in secondary (bid-ask) transactions. Fundnel is exploring tokenizing the Fund on Hg Exchange to give more liquidity for investors, as part of its goal of increasing market access and liquidity.
With tokenisation, a useful conduit for investors to tap into HGX liquidity may be established, and it is designed to let new investors to access high-growth firms in the area with a minimum ticket size of US$10,000, a quarter of the usual US $200,000 ticket size.
Nicko Widjaja, CEO of BRI Ventures, said, “Exit environment has been more challenging due to various unfavourable macro conditions that lead to a supply crunch. Through this exclusive partnership with Fundnel Group, BRI Ventures is thrilled to make growth capital investments in private late-stage Indonesian companies to help provide liquidity in the market. With BRI Ventures’ strong track record of investments and huge ecosystem and Fundnel’s extensive pipeline of secondary opportunities, this partnership will also serve as an attractive entry point for larger foreign funds to enter Indonesian growing tech startups.”
