Kejora Capital & SBI Holdings Form Early Stage Tech Investment Joint Venture
Southeast Asia venture capital firm Kejora Capital and financial services firm SBI Holdings have announced a joint venture to launch SBI Kejora Orbit Fund I, a USD $30 Million, early-stage technology fund, focusing on investment in Indonesia.
The Fund is expected to complete its first closing by June 30, 2020, with confirmed investors and will start the deployment immediately. Orbit will invest between USD $200k and $3mn per ticket size in thematically targeted technology areas, including Supply Chain, Education, Medical, Consumer Goods & Retail, Agriculture, Financial Technology, and Digital Media.
"Over the years, Kejora has built robust ecosystem support & synergy across our portfolios and partners, which proven to allow us to manage low investment risk and deliver strong returns to our investors. We're proud to continue building on this momentum with Orbit Fund, alongside SBI Holdings," said Andy Zain, Managing Partner at Kejora Capital.
"We are very pleased to officially announce the launch of our joint venture with Kejora. Since our first co-investment with Kejora more than three years ago, we have continuously cemented our confidence in the Indonesian technology sector through investments and partnerships. As such, we are thrilled to renew our commitment to the technology asset class in Indonesia with the launch of Orbit Fund," said Yoshitaka Kitao, President & CEO of SBI Holdings.
The Fund also announced appointment of Billy Boen, as Director of the Orbit Fund. Boen has been an angel investor and has also taken advisory roles in various companies from tech startups to the largest enterprise in Indonesia.
"More than ever, startups nowadays need support from experienced VC. Orbit Fund will not only provide financing but also offer combined resources from Kejora and SBI and insights from the extensive portfolio companies across the 25 countries to help build a strong generation of startups in Indonesia," said Boen.
The Fund is the successor of Kejora Star Capital II, Kejora's early-stage investment vehicle launched in 2016.
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