Capria Ventures, a global investment group, has made an undisclosed investment in AC Ventures in Indonesia.
The relationship fits in with Capria’s objectives to invest and affect Southeast Asia, India, Latin America, and Africa, according to a news statement.
Capria will partner with AC Ventures to co-invest directly in portfolio firms that have global potential.
Capria has 14 partnerships worldwide, and AC Ventures is the company’s sixth fund manager in Asia.
“AC Ventures and Capria share a similar approach as hands-on, value-adding investors bringing hi-octane capital that supports founders with collective experience, network, and resources,” said Dave Richards, co-founder and managing partner of Capria.
“Capria’s global experience in startups from the 14 partnerships bring an edge to identifying and understanding emerging market ventures. AC Ventures’ proven leadership in sourcing local startups at an early stage along with their track record of supporting founders reinforced our investment decision,” he added.
AC Ventures was founded in 2019 as a result of a combination between Convergence Ventures and Agaeti Capital Ventures. It currently manages $300 million in assets.
The venture capital company is presently raising a new fund worth around US $120 million, which is scheduled to close this year. It plans to invest between $1 million and $10 million in early-stage firms in Indonesia and Southeast Asia, with a focus on e-commerce, logistics, fintech, MSMEs, and digital media-enabled businesses.
AC Ventures Fund III claims to have earned over 2.5x gross return on invested capital in unrealised profits since its initial closure at US$80 million in 2020 and has seen over 25 follow-on investment rounds into its portfolio firms.
Capria is a worldwide venture capital business that specializes in fintech, edutech, jobtech, logistics/mobility, agtech/food, and healthcare in the Global South. It backs local and regional fund managers with cash and strategic support while also investing in regional soonicorns.
Capria also has offices in Seattle, Bangalore, Nairobi, Santiago, and Washington, D.C.
Since 2015, Indonesia’s online economy has grown at a pace of 49 percent per year on average. This rate of expansion has surpassed all forecasts, with revenues expected to exceed US$130 billion by 2025. So far, Indonesia has welcomed six regional unicorns, including Gojek and Tokopedia (which have merged into GoTo Group), Traveloka, OVO, Bukalapak, and J&T Express, as a result of this acceleration.
