ACV Review, a hand-curated newsletter which brings you interesting reads on entrepreneurship and technology.
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Ex-Qiming partner Wong joins AC Ventures, says local funds have upper hand in spotting best bets
Seasoned investor Helen Wong has joined Indonesia-focused early-stage venture capital firm AC Ventures as Senior and Venture Partner. At AC Ventures, she will bring over 20 years of investment experience from established firms, including GGV and Qiming Ventures to support AC Ventures in areas including firm development, team training, investments, and portfolio advisory.
Learn more via Deal Street Asia here.
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Indonesia-focused AC Ventures closes oversubscribed US$205 Million third fund
Indonesia-based venture capital firm AC Ventures closed its Fund III with over US$205 million in committed capital, bringing the firm’s total AUM to over US$380 million across its funds. The fund was oversubscribed and participated by renowned global and regional institutional investors, including the World Bank’s International Finance Corporation (IFC) and Disrupt AD, Abu Dhabi Developmental Holdings (ADQ) venture platform. Learn more via TechCrunch here.
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AC Ventures’ Adrian Li says Indonesia’s the most compelling market to invest in ASEAN
Some say this is the best time for the startup ecosystem in Southeast Asia, especially in Indonesia, the largest economy in the region with the largest population and a rising middle class. According to Jakarta-based AC Ventures Founder and Managing Partner Adrian Li, Indonesia’s sheer market size and potential make it the most compelling single market to invest in ASEAN. Read about it here.
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In Episode 3 of Indonesia Digital Deconstructed by AC Ventures, we continue to explore the players digitizing Indonesia’s 63 million MSMEs which form the backbone of the country’s economy.
This episode features Adrian Li, Founder & Managing Partner of AC Ventures, in conversation with Gunawan Woen, Co-founder and CEO of ESB.Listen on Spotify, Apple Podcasts, or Google Podcasts.
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Sirka, a digital personal health coaching platform addressing weight loss and lifestyle goals by providing actionable steps and professional consultations in Indonesia, has completed its US$2.6 million Seed Funding round co-led by AC Ventures and Wavemaker Partners. Read about it here.
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Otoklix, an online-to-offline digital solution for automotive aftermarket services in Indonesia, has raised US$10 million from Alpha JWC Ventures and AC Ventures. Read about it here.
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Aruna, Indonesia’s leading fishery and marine platform, has announced a US$30 million Series A follow-on funding led by Vertex Ventures Southeast Asia & India. The round also saw participation from existing investors Prosus Ventures, AC Ventures, East Ventures, Indogen Capital, SMDV, and SIG Venture Capital. Read about it here.
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Quick-commerce startup for e-groceries, Astro has raised US$27 million in Series A led by Accel and Sequoia Capital India. Existing investors, AC Ventures, Global Founders Capital, Lightspeed, Goodwater Capital, including founders and senior executives as angel investors from Traveloka, Ajaib, Meesho, OYO, Swiggy, Udaan, also participated in the round. Read about it here.
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ACV & Portfolio in the News
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- Ex-Qiming partner Wong joins AC Ventures, says local funds have the upper hand in spotting best bets. DealStreetAsia. Read about it here.
- Indonesia-focused AC Ventures does oversubscribed US$205M third fund. TechCrunch. Read about it here.
- AC Ventures’ Adrian Li says Indonesia’s the most compelling market to invest in ASEAN. TechNode Global. Read about it here.
- Endeavor Indonesia’s accelerator picks 10 startups for the second cohort. TechinAsia. Read about it here.
- For Indonesia’s Shipper, first-mile logistics and fulfillment can’t be anchors forever. The Ken. Read about it here.
- Personal health coaching platform Sirka nets US$2.6M led by AC Ventures, Wavemaker. E27. Read about it here.
- AC Ventures leads Series A+ funding of Malaysian Based SaaS F&B Startup Food Market Hub. Daily Social. Read about it here.
- Indonesian auto aftermarket platform Otoklix raises US$10M from Alpha JWC, AC Ventures. DealStreetAsia. Read about it here.
- KoinWorks raises $108m in Series C to power Indonesia’s SME sector. FintechFutures. Read about it here.
- Beauty social commerce firm Raena bags $10m in new fundraising. TechinAsia. Read about it here.·Indonesian fishery platform Aruna raises US$30 million in follow-on Series A funding, bringing total capital raised to US$65 million. TechNode Global. Read about it here.
- HR start-up Gajiku raises $1.1 million in a seed round. The Jakarta Post. Read about it here.
- CoLearn raises an additional $17 mn in Series A follow-on funding round. Business Standard. Read about it here.
- Indonesian e-commerce platform Astro secures $27m in funding. AsiaTech Daily. Read about it here.
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On 13 January 2022, Laura Lestari, ACV VP of Investment, participated as a judge at the NEXTDEV Talent Scouting by Telkomsel.
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Maliekah Harjani, Investment Analyst at AC Ventures as a judge for the 14-week startup boot camp, Founder Institute Southeast Asia, in December 2021.
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AC Ventures is a leading Southeast Asian Venture Capital Firm investing in early-stage startups focused on the Indonesia and ASEAN markets. AC Ventures’ mission is to partner and empower entrepreneurs with more than capital, combining operational experience, industry knowledge, deep local networks, and resources to create value. Our vision is to be a generational partner to founders driving positive societal change and economic impact to Indonesia and beyond through technology-enabled ventures.
AC Ventures manages over US$380M in AUM invested across four funds. Since 2012, AC Ventures’ Partners have invested in over 100 technology companies in Indonesia and Southeast Asia, including some of the most iconic names in the SEA digital ecosystem. AC Ventures’ Founding Partners, Adrian Li, Michael Soerijadji, and Pandu Sjahrir, lead a team of over 25 professionals with offices in Jakarta and Singapore.
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Our mailing address is:
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