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Top 50 B2B Startup Investors in Indonesia (September 2026)

The most active venture capital funds and angel investors investing in Indonesia B2B startups. This investor list is updated monthly from the Shizune investor database, ranked by number of investments in Indonesia B2B startup companies. Find investors to raise a Seed, Series A or Series B round with Shizune.
Investor Relevant Deals Geography Stage Focus Round Size
BRI Ventures
VC Fund
7 Indonesia, Singapore, Taiwan Seed, Series A, Series B Financial Services, FinTech, B2B $2M–$100M
AC Ventures
VC Fund
5 Indonesia, Singapore, India Seed, Series A, Series B Financial Services, Information Technology, Software $1M–$87M
Alpha JWC Ventures
VC Fund
5 Indonesia, Singapore, Vietnam Seed, Series A, Series B Information Technology, E-Commerce, FinTech $640k–$153M
Quona Capital
VC Fund
4 India, Brazil, Indonesia Series A, Seed, Series B Financial Services, FinTech, Finance $3M–$87M
Antler
VC Fund
4 Singapore, Australia, United Kingdom Pre-Seed, Seed, Series A Software, Artificial Intelligence, Information Technology $100k–$29M
MDI Ventures
VC Fund
4 Indonesia, Singapore, United States Seed, Series B, Series A Software, E-Commerce, Information Technology $600k–$66M
Peak XV Partners
VC Fund
4 India, United States, Singapore Series A, Series B, Seed Software, Financial Services, E-Commerce $1.6M–$65M
Indonusa Dwitama
VC Fund
3 Indonesia, Singapore Seed, Series A B2B, FinTech, E-Commerce
Xendit
VC Fund
3 Indonesia, Philippines Corporate Round, Series A, Seed E-Commerce, Software, Payments $3M–$10M
Prasetia Dwidharma
VC Fund
3 Indonesia, Singapore, United States Seed, Series A, Pre-Seed Software, Artificial Intelligence, E-Commerce $100k–$15M
Argor Capital
VC Fund
3 Indonesia, India, Vietnam Series A, Seed, Series B E-Commerce, Mobile Apps, FinTech $3M–$65M
Golden Gate Ventures
VC Fund
3 Singapore, Indonesia, United States Seed, Series A, Series B FinTech, Software, Financial Services $473k–$60M
BEENEXT
VC Fund
3 India, Japan, Indonesia Seed, Series A, Series B Software, E-Commerce, FinTech $453k–$50M
Accion Ventures
VC Fund
2 India, United States, Mexico Seed, Series A, Series B Financial Services, FinTech, Finance $500k–$30M
Development Finance Asia
VC Fund
2 Indonesia Seed, Series A B2B, CRM, Software
Investible
VC Fund
2 Australia, United States, Singapore Seed, Series A, Pre-Seed Software, Artificial Intelligence, Information Technology $300k–$20M
Mercy Corps Ventures
VC Fund
2 Kenya, United States, Nigeria Seed, Pre-Seed, Series A Financial Services, FinTech, Agriculture $100k–$35M
Alto Partners Multi-Family Office
VC Fund
2 Indonesia, Singapore, India Seed, Series A, Series B FinTech, Financial Services, SaaS $1.1M–$50M
Rebright Partners
VC Fund
2 India, Singapore, Indonesia Seed, Series A, Series B Software, SaaS, Health Care $560k–$40M
Convergence Ventures
VC Fund
2 Indonesia, Singapore, Taiwan Series A, Seed, Series B Internet, Financial Services, FinTech $1.1M–$60M
Vertex Ventures
VC Fund
2 United States, China, Israel Series A, Series B, Series C Software, Information Technology, Artificial Intelligence $3M–$100M
Indogen Capital
VC Fund
2 Indonesia, Singapore, Taiwan Series A, Seed, Series B Information Technology, E-Commerce, Supply Chain Management $300k–$65M
Skystar Capital
VC Fund
2 Indonesia, Singapore, Vietnam Seed, Series A, Series B E-Commerce, Financial Services, FinTech $850k–$60M
Blue7
VC Fund
2 Indonesia, Singapore, Switzerland Series A, Seed Information Technology, FinTech, Education $3.8M–$11M
The Meloy Fund
VC Fund
2 Indonesia, Philippines Seed, Series A Seafood, B2B, CRM
Wavemaker Ventures
VC Fund
2 United States, Singapore, Philippines Seed, Series A Software, E-Commerce, Information Technology $800k–$19M
Intudo Ventures
VC Fund
2 Indonesia, Singapore, Hong Kong Seed, Series A, Series B FinTech, Financial Services, Marketplace $500k–$66M
SOSV
VC Fund
2 United States, India, United Kingdom Seed, Convertible Note, Pre-Seed Biotechnology, Health Care, Software
STRIVE
VC Fund
2 Japan, India, Indonesia Seed, Series A, Series B Software, E-Commerce, SaaS $740k–$47M
iSeed
VC Fund
2 India, United States, Indonesia Seed, Series A, Pre-Seed Software, Health Care, Financial Services $427k–$15M
Ashwin Tiwari
Angel
2 Indonesia Seed B2B, Apps, Internet $275k–$459k
Silverstrand Capital
VC Fund
2 Australia, Singapore, United States Seed, Series A, Pre-Seed Agriculture, Manufacturing, Information Technology $900k–$7.9M
Openspace Capital
VC Fund
2 Singapore, Indonesia, Philippines Series A, Series B, Seed E-Commerce, Financial Services, Software $1.7M–$55M
Lightspeed India Partners
VC Fund
2 India, United States, Indonesia Seed, Series A, Series B Financial Services, Software, Information Technology $1.7M–$87M
DS/X Ventures
VC Fund
2 Indonesia, Singapore Seed, Pre-Seed Information Technology, B2B, FinTech $1M–$4.1M
Heyokha Brothers
VC Fund
2 Indonesia Series A, Seed, Series B Finance, Financial Services, Lending $5M–$13M
Orvel Ventures
VC Fund
2 Indonesia, Singapore, Thailand Seed, Series A, Pre-Seed Financial Services, Information Technology, Artificial Intelligence $958k–$7M
Mandiri Capital Indonesia (MCI)
VC Fund
2 Indonesia Series B, Series A, Seed FinTech, Financial Services, Information Technology $500k–$65M
Gentree Fund
VC Fund
2 Philippines, United States, Indonesia Seed, Series A, Series C Software, B2B, Retail $1M–$60M
Planet Rise
VC Fund
2 Indonesia Seed, Series A B2B, CRM, Software
Indies Capital Partners
VC Fund
2 Indonesia, Singapore, Malaysia Series B, Series C, Seed E-Commerce, FinTech, Lending $144M–$144M
Forge Ventures
VC Fund
2 Singapore, Indonesia, Philippines Seed, Pre-Seed Artificial Intelligence, SaaS, EdTech $500k–$5.1M
10K Ventures
VC Fund
1 Brazil, Spain, Germany Seed, Pre-Seed FinTech, E-Commerce, Financial Services $800k–$20M
Betatron Venture Group
VC Fund
1 Hong Kong, India, Singapore Seed, Series A, Pre-Seed Information Technology, Software, E-Commerce
Moses Lo
Angel
1 Indonesia, India, Singapore Pre-Seed, Series B, Seed Information Technology, Financial Services, Software
Goodwater Capital
VC Fund
1 United States, India, South Korea Seed, Pre-Seed, Series A FinTech, Financial Services, Software
GMO VenturePartners
VC Fund
1 Japan, United States, India Seed, Series A, Series B Financial Services, FinTech, Software $1.3M–$213M
Kejora Capital
VC Fund
1 Indonesia, Singapore, Malaysia Seed, Series B Financial Services, E-Commerce, FinTech $15k–$170M
Finch Capital
VC Fund
1 United Kingdom, The Netherlands, Ireland Series A, Seed, Series B FinTech, Financial Services, Software $252k–$55M
ATM Capital
VC Fund
1 Indonesia, China, Singapore Seed, Series C, Series A Publishing, Advertising, Communities
Access all 184 investors in Indonesia B2B startups.

Access 48,091 investors

822 industries, 177 countries. Updated daily. Emails and phones included.

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Investor list

BRI Ventures
VC Fund · Jakarta, Jakarta Raya, Indonesia · 7 investments in Indonesia B2B startups

Beyond Funding: Building Indonesia's Digital Ecosystem and Fostering Local Champions

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Investment focus

  • Industry: Financial Services, FinTech, B2B
  • Stage:Seed, Series A, Series B
  • Geography: Indonesia, Singapore, Taiwan

Investor stats

  • Total investments: 45
  • Round size: Seed $2.3M–$10M; Series A $2M–$35M; Series B $5M–$100M
  • Lead/follow: 16% lead, 84% follow
  • Last fund: May invest from a new fund soon — raised $21M in 2020

Portfolio highlights

  • Materee — Simplifying construction materials procurement in Indonesia
  • DayaTani — Leveling Up Farming At Scale. From small plots to big estates, we design tech that levels up agricultural practitioners.
  • Bang Jamin — Bang Jamin offers all-encompassing services and an AI-powered insurance buying and claims process.
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AC Ventures
VC Fund · Jakarta, Jakarta Raya, Indonesia · 5 investments in Indonesia B2B startups

Founded in 2014, AC Ventures is a Southeast Asian venture capital firm that invests in early-stage startups focused on Indonesia and ASEAN, with over US$500 million in assets under management across five funds. The firm’s areas of investment focus on a variety of industries, including digital enablement, financial technologies, agriculturetechnologies, logistics, e-commerce, consumer technology, MSME solutions, waste management, renewable energy, and sustainability solutions.

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Investment focus

  • Industry: Financial Services, Information Technology, Software
  • Stage:Seed, Series A, Series B
  • Geography: Indonesia, Singapore, India

Investor stats

  • Total investments: 154
  • Round size: Seed $1M–$7M; Series A $5M–$35M; Series B $12M–$87M
  • Lead/follow: 29% lead, 71% follow
  • Last fund: Likely actively investing — fresh fund, raised $8M in 2025

Portfolio highlights

  • Blostem — Blostem provides fintech solutions, focusing on seamless fixed deposit integration for financial services platforms. The company offers an embedded investment platform and white-label solutions, catering to fintechs, wealth tech platforms, investment advisors, and digital companies. Blostem aims to enhance customer experience through innovativefinancial growth and security solutions.
  • Shiok Burger — Shiok Burger is a food and beverages company that provides baked buns and an innovative burger menu.
  • ASTRO — Situs Belanja Kebutuhan Harian Online dengan Harga Terjangkau dan Kualitas Terbaik. Pesan Kebutuhan Harian di ASTRO Pasti Sampai dalam Hitungan Menit
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Alpha JWC Ventures
VC Fund · Jakarta Pusat, Jakarta Raya, Indonesia · 5 investments in Indonesia B2B startups

Alpha JWC Ventures is an Indonesia-focused value-adding venture capital firm with expertise in FinTech and the Consumer tech sector. Alpha JWC Ventures is an independent and institutional firm that believes in investing in a disciplined manner combined with an active portfolio management approach. The firm was founded in 2015 and is based inJakarta Pusat, Jakarta Raya, Indonesia.

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Investment focus

  • Industry: Information Technology, E-Commerce, FinTech
  • Stage:Seed, Series A, Series B
  • Geography: Indonesia, Singapore, Vietnam

Investor stats

  • Total investments: 138
  • Round size: Seed $640k–$8M; Series A $5.3M–$40M; Series B $15M–$153M
  • Lead/follow: 43% lead, 57% follow
  • Last fund: Likely still investing — raised $433M in 2021

Portfolio highlights

  • Bumame — Bumame menghadirkan layanan kesehatan terpadu, medical check up, vaksinasi, konsultasi dokter, dan informasi kesehatan.
  • Hangry — Hangry is a multi-brand restaurant company focusing on serving great foods through food delivery channels. We own several food brands ranging from fried-chicken to coffee. We focus in designing foods that are very tasty, consistent, and affordable to the mass market. All our recipes have gone through tons of testing to make sure each bite is reallydelicious.
  • HistoSonics — HistoSonics provides the Edison Platform, which uses advanced imaging and proprietary sensing technology to deliver non-invasive, personalized treatments with precision and control, and uses the science of histotripsy and focused sound energy to generate pressures to liquify and completely destroy targeted tissues at sub-cellular levels.
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Quona Capital
VC Fund · Washington, District of Columbia, United States · 4 investments in Indonesia B2B startups, 10 in the past 12 months

Quona Capital invests in fintech innovators that are advancing financial inclusion around the globe. Through our investments, Quona aims to deliver outstanding financial returns while making a lasting and positive impact on the world.

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Investment focus

  • Industry: Financial Services, FinTech, Finance
  • Stage:Series A, Seed, Series B
  • Geography: India, Brazil, Indonesia

Investor stats

  • Total investments: 217
  • Round size: Seed $3M–$10M; Series A $3.1M–$25M; Series B $8M–$87M
  • Lead/follow: 42% lead, 58% follow
  • Last fund: Likely still investing — raised $332M in 2022

Portfolio highlights

  • Jusfy — Jusfy offers legal services and consulting for individuals and business organizations.
  • Jem — We give employers the ability to send company-wide communications, deliver payslips, manage leave & give employees access to their earnings, via WhatsApp.
  • Cordant — A single operational picture across every system money moves through. Your team acts on what's happening, not what already happened.
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Antler
VC Fund · Singapore, Central Region, Singapore · 4 investments in Indonesia B2B startups

Build your next company with Antler, a global day zero investor enabling exceptional founders to start great companies, from the very beginning. Apply now!

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Investment focus

  • Industry: Software, Artificial Intelligence, Information Technology
  • Stage:Pre-Seed, Seed, Series A
  • Geography: Singapore, Australia, United Kingdom

Investor stats

  • Total investments: 2372
  • Round size: Seed $158k–$4.5M; Pre-Seed $100k–$587k; Series A $4.1M–$29M
  • Lead/follow: 43% lead, 57% follow
  • Last fund: Likely actively investing — fresh fund, raised $7.5M in 2026

Portfolio highlights

  • Two — Buy Now, Pay Later for your business customers. Two makes it easy and safe to offer invoice as a payment method on your e-commerce site.
  • Forti Foods — The mission of Forti Foods is to enhance communities and change lives beyond the plate by fostering resilience and dignity via sustainable food innovation.
  • RubiLabs — RubiLabs Inc provides a platform for unifying, monitoring, and analyzing organizational data. RubiLabs software enables analysts and operators across risk, compliance, and security teams to collaborate and interpret large volumes of information in real time. The company’s platform is designed to help institutions make sense of complex, fragmenteddata by transforming it into a coherent operational picture for risk detection, continuous monitoring, and investigative workflows.
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MDI Ventures
VC Fund · Jakarta, Jakarta Raya, Indonesia · 4 investments in Indonesia B2B startups

MDI is a corporate venture capital initiative by Telkom Indonesia and is set as an independent entity with its own funding processes. MDI uniquely combines a VC model with service in providing companies with access to operational help after making a financial investment.MDI works closely with global accelerators and venture firms to bringproprietary technology from other mature markets into various businesses of Telkom Indonesia.

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Investment focus

  • Industry: Software, E-Commerce, Information Technology
  • Stage:Seed, Series B, Series A
  • Geography: Indonesia, Singapore, United States

Investor stats

  • Total investments: 139
  • Round size: Seed $600k–$6.4M; Series A $3.5M–$35M; Series B $8.2M–$66M
  • Lead/follow: 43% lead, 57% follow
  • Last fund: Likely still investing — raised $200M in 2023

Portfolio highlights

  • CYFIRMA — CYFIRMA, offers market-leading cyberthreat visibility products and services, powered by artificial intelligence (AI) and machine learning, CYFIRMA’s flagship platform delivers comprehensive, real-time insights into emerging cyberthreats, attack motives and methods—customized to a client’s industry and IT environment.CYFIRMA defends againstcyberattacks by supplying organizations with real-time threat visibility and situational awareness to enables them to take a more proactive strategic, management and tactical security management actions. By aggregating, correlating and analyzing information from hundreds of thousands of sources on the open and dark web, CYFIRMA helps clients anticipate what types of attacks are most likely to occur and provide the most effective response.
  • Panviva — Connect, Collaborate and Communicate with your employees and customers like never before. Panviva provides complete and innovative knowledge management solutions focused on streamlining and making information more accessible.
  • Whale — Whale provides an omnichannel marketing platform that transforms marketing operations, digitalizes store operations and unifies offline & online brand experiences leveraging AI + IoT + Big Data to “Connect Brands with Customer”.Founded in 2017, Whale has since empowered 400+ global FMCG, F&B, Fashion and Automotive brands includingP&G, Unilever, Starbucks, UNIQLO, ARMANI, Watsons, Xiaomi, Midea, Lotus, POP MART etc. with over 150,000 stores across APAC, enabling brands to embrace the full potential of digital transformation.Equipped with AI capabilities, patented ReID technology and enterprise-grade security, Whale platforms comprising of Space Data Platform (SDP), Whale Marketing Cloud (WMC), Whale Open Platform (WOP) and Whale Analytics, serve as the end-to-end digitalization engine that enables brands to seamlessly engage with each customer.Whale is backed by Temasek Holding, NIO Capital, Source Code Capital, Linear Capital, Alpha Commune, BAI Capital and The Jiangmen, with 6 offices across Singapore, Hangzhou, Shanghai, Beijing and Shenzhen.
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Peak XV Partners
VC Fund · Bengaluru, Karnataka, India · 4 investments in Indonesia B2B startups

We help the daring build legendary companies.

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Investment focus

  • Industry: Software, Financial Services, E-Commerce
  • Stage:Series A, Series B, Seed
  • Geography: India, United States, Singapore

Investor stats

  • Total investments: 833
  • Round size: Seed $1.6M–$11M; Series A $5.9M–$30M; Series B $9.9M–$65M
  • Lead/follow: 53% lead, 47% follow
  • Last fund: Likely actively investing — fresh fund, raised $1.3B in 2026

Portfolio highlights

  • Clouted — Clout Kitchen is THE Virality Engine for brands and creators, designing data-driven viral campaigns with distribution marketing.
  • Neo Asset Management — India's Premier New Age Asset Management and Financial Advisory Firm #neogroup #DoGood
  • Checkbox — Checkbox is an award-winning no code platform which allows users to build their own business apps for process automation.
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Indonusa Dwitama
VC Fund · Jakarta, Jakarta Raya, Indonesia · 3 investments in Indonesia B2B startups

Indonusa Dwitama is a holding company that engages in organizing and developing a broad portfolio of investments, including the exploration and exploitation of mining, financial services, interactive multi-media and information technology and trading activities in Indonesia. Pemengang main stock and visionary leader of the group is Mr.Indonusa. Victor Fungkong.

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Investment focus

  • Industry: B2B, FinTech, E-Commerce
  • Stage:Seed, Series A
  • Geography: Indonesia, Singapore

Investor stats

  • Total investments: 8
  • Lead/follow: 38% lead, 62% follow

Portfolio highlights

  • Vospay — Plafon kredit siap pakai untuk belanja barang apapun dengan cicilan hingga 24 bulan. Belanja sekarang, bayar nanti di merchant mitra Vospay. Ajukan kredit hingga 12 bulan.
  • Arogya.ai — Arogya.ai develops an AI-powered optimization platform for hospitals in order to streamline and reduce inventory management costs. It is founded in 2019 and is based in Jakarta, Indonesia.
  • Tilaka.id — Tilaka.id offers certified electronic signature services that comply with KOMINFO standards. The main service, Tilaka Sign, includes a portal for managing electronic signatures. The company also provides various certification-related services such as Certificate Revocation List (CRL) and Certification Practice Statements.
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Xendit
VC Fund · Jakarta, Jakarta Raya, Indonesia · 3 investments in Indonesia B2B startups

Xendit is the best and most secure online payment gateway in the SEA, helping your business accept and send local & international payments.

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Investment focus

  • Industry: E-Commerce, Software, Payments
  • Stage:Corporate Round, Series A, Seed
  • Geography: Indonesia, Philippines

Investor stats

  • Total investments: 8
  • Round size: Seed $4M–$5M; Series A $3M–$10M
  • Lead/follow: 50% lead, 50% follow

Portfolio highlights

  • Majoo — Aplikasi untuk semua jenis usaha meliputi: kasir, inventori, keuangan, karyawan, loyalti, dan analisis bisnis. Satu solusi pilihan puluhan ribu pebisnis di Indonesia.
  • Enstack — Start, run, and grow your business on Enstack, your business HQ in your pocket.
  • Payex — Payex is a payment gateway that offers online money collection services to freelancers, Facebook Live and Instagram sellers.
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Prasetia Dwidharma
VC Fund · Jakarta Pusat, Jakarta Raya, Indonesia · 3 investments in Indonesia B2B startups

PT Prasetia Dwidharma was founded in 2008 as a telecommunication infrastructure contractor. The company has started to invest in technology startups since 2013.

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Investment focus

  • Industry: Software, Artificial Intelligence, E-Commerce
  • Stage:Seed, Series A, Pre-Seed
  • Geography: Indonesia, Singapore, United States

Investor stats

  • Total investments: 80
  • Round size: Seed $500k–$4.5M; Pre-Seed $100k–$1.5M; Series A $3M–$15M
  • Lead/follow: 11% lead, 89% follow

Portfolio highlights

  • Baskit — baskit | Empowering wholesalers and distributors with the world's first cloud-native all-in-one app
  • Luna POS — Luna POS provides cloud-based cashier, inventory management, and accounting solutions for SMEs in Indonesia. The company offers a seamless mobile cloud-based Point of Sale (POS) and accounting system, helping the retail industry with managing business activities such as checking the stock of goods, making a bundle menu, calculating sales, and tosee financial statements of the business.
  • DOOgether — DOOgether is Indonesia’s number one leading healthy lifestyle application that gives easier access and solution to your healthy lifestyle, in booking workout classes (offline and virtual) and in purchasing healthy caterings.
Show all investments...

Access 48,091 investors

822 industries, 177 countries. Updated daily. Emails and phones included.

Browse database — It's Free!
Argor Capital
VC Fund · Jakarta, Jakarta Raya, Indonesia · 3 investments in Indonesia B2B startups

Argor Capital is an early stage venture fund focused on the fast growing markets of Southeast Asia.

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Investment focus

  • Industry: E-Commerce, Mobile Apps, FinTech
  • Stage:Series A, Seed, Series B
  • Geography: Indonesia, India, Vietnam

Investor stats

  • Total investments: 43
  • Round size: Seed $4M–$10M; Series A $3M–$36M; Series B $12M–$65M
  • Lead/follow: 35% lead, 65% follow
  • Last fund: Likely still investing — raised $240M in 2023

Portfolio highlights

  • Octen AI — The search infrastructure for AI. Real-time web search foundation that empowers LLMs to reason with the world's latest information. Engineered for AI Agents, Copilots, and Chatbots with real-time indexing, sub-100ms latency, and high reliability.
  • AI Hay — AI Hay develops an AI-driven answer engine that allows users to access information through a question-and-answer format. The company combines hyperlocal, culturally nuanced knowledge discovery engines with social loops to enhance community validation and perspectives. It utilizes in-house specialized large-language models, retrieval-augmentedgeneration (RAG), and social features to build a knowledge discovery platform that serves the community.
  • SeIndonesia — Se’Indonesia is a fastest growing Indonesian Quick Service Restaurant chain. providing high-quality protein that is flavorful, nutritious, accessible, and affordable. The company specializes in smoked beef bowls, leveraging a proprietary smoking process that delivers distinct taste and aroma rooted in Indonesian culinary tradition.Founded with avision to revolutionize the food industry, Se’Indonesia emphasizes product integrity, operational scalability, and efficient delivery formats. Through its commitment to honest cooking and accessible nutrition, the company is positioned to lead the next generation of quick-service food solutions across Indonesia and beyond.
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Golden Gate Ventures
VC Fund · Singapore, Central Region, Singapore · 3 investments in Indonesia B2B startups, 8 in the past 12 months

Golden Gate Ventures is a venture capital firm investing across Southeast Asia. Since 2011, the firm has launched four funds, managed US$250M AUM, and invested in 60+ companies in over 7 countries in Asia. The firm focuses on investing in technology companies driven by the rising consumer class in Southeast Asia.

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Investment focus

  • Industry: FinTech, Software, Financial Services
  • Stage:Seed, Series A, Series B
  • Geography: Singapore, Indonesia, United States

Investor stats

  • Total investments: 149
  • Round size: Seed $473k–$6.4M; Series A $1.5M–$17M; Series B $10M–$60M
  • Lead/follow: 36% lead, 64% follow
  • Last fund: Likely still investing — raised $100M in 2024

Portfolio highlights

  • IWG — IWG is a medical start-up that provides cloud-based solutions for medical resource shortages and work support tools.
  • Triangle — We route, produce and promote tours across the region.
  • Kita Technologies — Kita Technologies uses computer vision and vision language models to transform unstructured documents into structured underwriting data.
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BEENEXT
VC Fund · Singapore, Central Region, Singapore · 3 investments in Indonesia B2B startups

BEENEXT is a Venture Capital fund managed by serial entrepreneurs that focuses on assisting founders with its operational experience, network, trust, unique perspectives, and the capital. The team invests in early-stage tech start-ups that are focused on building the new digital platforms driven by the data network. BEENEXT aims to establish aplatform of founders, by the founders and for the founders across the globe, primarily in South East Asia, India and Japan. Since its establishment in 2015, the team has invested in over 180 companies globally.

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Investment focus

  • Industry: Software, E-Commerce, FinTech
  • Stage:Seed, Series A, Series B
  • Geography: India, Japan, Indonesia

Investor stats

  • Total investments: 390
  • Round size: Seed $453k–$5M; Series A $2.1M–$15M; Series B $5.5M–$50M
  • Lead/follow: 30% lead, 70% follow
  • Last fund: Likely still investing — raised $1M in 2023

Portfolio highlights

  • Whizzo — Whizzo specializes in materials science-driven manufacturing of engineered fashion and technical textiles. Our expertise lies in creating and executing innovative textile blends tailored for applications across automotive, agriculture, medical textiles, and engineered fashion.
  • First Coffee — Discover the best specialty coffee in India with our range of single origin Arabica beans and exclusive merchandise. Shop online at First Coffee for freshly roasted, quality blends.
  • Kita Technologies — Kita Technologies uses computer vision and vision language models to transform unstructured documents into structured underwriting data.
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Accion Ventures
VC Fund · Washington, District of Columbia, United States · 2 investments in Indonesia B2B startups

Accion Ventures is an investment strategy that today pursues early-stage investments as part of Accion Impact Management.

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Investment focus

  • Industry: Financial Services, FinTech, Finance
  • Stage:Seed, Series A, Series B
  • Geography: India, United States, Mexico

Investor stats

  • Total investments: 146
  • Round size: Seed $500k–$6.4M; Series A $2.5M–$17M; Series B $8M–$30M
  • Lead/follow: 34% lead, 66% follow
  • Last fund: Likely actively investing — fresh fund, raised $62M in 2025

Portfolio highlights

  • Kuunda — Kuunda provides consulting, liquidity management, data insight tools enabling users to fulfill financial needs through a digital platform.
  • Billpocket — Billpocket convierte tu smartphone o tablet en una terminal punto de venta. Ya no tienes que esperar al banco y pagar exageradas cuotas de mantenimiento, fianzas y papel para poder cobrar con tarjeta. Simplemente necesitas una cuenta bancaria a donde puedas recibir tus cobros con tarjeta de débito y crédito.
  • AquaExchange — AquaExchange is a technology platform for shrimp and fish farmers.
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Development Finance Asia
VC Fund · Central, Hong Kong Island, Hong Kong · 2 investments in Indonesia B2B startups

A specialist investment platform, focused on providing innovative financing solutions in illiquid and underserved markets across Asia.

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Investment focus

  • Industry: B2B, CRM, Software
  • Stage:Seed, Series A
  • Geography: Indonesia

Investor stats

  • Total investments: 3
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Koltiva — Koltiva is a farmer first global tech company empowering over 480,000 farmers and business users across 27 countries. We support some of the largest multinational companies by digitizing global supply chains and technology. Our focus is to enhance traceability, inclusiveness, and sustainability.
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Investible
VC Fund · Sydney, New South Wales, Australia · 2 investments in Indonesia B2B startups

Investible is an early-stage venture capital firm backing the visionaries advancing humanity through technology in Australia, New Zealand, Southeast Asia and globally.

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Investment focus

  • Industry: Software, Artificial Intelligence, Information Technology
  • Stage:Seed, Series A, Pre-Seed
  • Geography: Australia, United States, Singapore

Investor stats

  • Total investments: 239
  • Round size: Seed $300k–$5.1M; Pre-Seed $392k–$2M; Series A $1.7M–$20M
  • Lead/follow: 37% lead, 63% follow
  • Last fund: Likely still investing — fund raised in 2023

Portfolio highlights

  • Apate.AI — Is the next generation of scam prevention and intelligence. We deploy advanced conversational AI bots combined with real-time insights to protect businesses, governments and communities globally.2
  • Inspace XR — Inspire and engage prospective tenants, buyers, and your team with interactive virtual replicas of your assets, with 360 virtual tours, analytics & more.
  • GeoSnapShot — Let's put your photos to work. Built for professionals, available to everyone. GeoSnapShot is loved by amateurs, professionals, teams and individuals.
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Mercy Corps Ventures
VC Fund · Portland, Oregon, United States · 2 investments in Indonesia B2B startups

Mercy Corps Ventures invests in and catalyzes venture-led solutions to increase the resilience of underserved individuals and communities. Founded in 2015 as the impact investing arm of global development agency, Mercy Corps, supports over 57 early-stage ventures to scale and raise over $515 million in follow-on capital. Their portfolio centersaround resilience-building solutions in adaptive agriculture and food systems, inclusive climate fintech, and climate-smart technologies so that those living in frontier markets can withstand disruption and plan for the future. Through capital and support, piloting new approaches, action-oriented insights, and rigorously managing impact, they catalyze the ecosystem toward smarter, more impactful investments.

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Investment focus

  • Industry: Financial Services, FinTech, Agriculture
  • Stage:Seed, Pre-Seed, Series A
  • Geography: Kenya, United States, Nigeria

Investor stats

  • Total investments: 73
  • Round size: Seed $330k–$5.3M; Pre-Seed $100k–$7M; Series A $2.5M–$35M
  • Lead/follow: 18% lead, 82% follow

Portfolio highlights

  • Logidoo — Logidoo is a digital logistics marketplace-designed company that markets shuttles through smart logistics. The company's platform, which provides rapid, dependable, secure, and economical logistics, allows users to compare offers for sending and receiving items and to track parcels in real-time.
  • Meridia — De-risk the sourcing, procurement, trading & compliance of commodities under the EUDR.
  • ReForest Latam — ReForest Latam is an biotech company restoring ecosystems and creating forests to fight climate change.
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Alto Partners Multi-Family Office
VC Fund · Singapore, Central Region, Singapore · 2 investments in Indonesia B2B startups

Alto Partners is the first Multi-Family Office founded by and for Asia’s entrepreneurs.​​ Since our establishment in 2013, we have invested in dozens of Southeast Asia's leading founders. ​Many entrepreneurs we backed with our financial and strategic capital have become Asia's most celebrated success stories.​​As we achieve exitsalongside founders, we become the family office of choice for new entrepreneurial wealth, which is often re-invested into next generation start-ups. ​This entrepreneur-focused cycle of venture funding, exits and re-investment underpins the growth of our family office, which today includes the founders of Gojek, Bank Jago, Kopi Kenangan, ​Jobstreet, Northstar and others from Asia's venture ecosystem. ​​

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Investment focus

  • Industry: FinTech, Financial Services, SaaS
  • Stage:Seed, Series A, Series B
  • Geography: Indonesia, Singapore, India

Investor stats

  • Total investments: 84
  • Round size: Seed $1.1M–$7.7M; Series A $1.9M–$35M; Series B $10M–$50M
  • Lead/follow: 1% lead, 99% follow

Portfolio highlights

  • IDfy — Secure Customer Onboarding | Smarter Fraud Detection | DPDP Compliance & Privacy Governance made Easy for Banks, E-Commerce, and Logistics.
  • KLAR Smile — KLAR Aligner merupakan solusi tepat untuk mendapatkan gigi rapi yang aman, cepat, tidak sakit, dan terjangkau tanpa mengganggu penampilanmu.
  • Nafas — Nafas creates an air quality sensor network to monitor the quality of outdoor air. Nafas collects data from real sensors that are designed to be installed outside and withstand the elements. To provide the most accurate local data, Nafas has installed over 30 sensors throughout Jakarta.
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Rebright Partners
VC Fund · Tokyo, Tokyo, Japan · 2 investments in Indonesia B2B startups

Venture Capital Firm based in Singapore and Tokyo, focus on seed to early stage Internet & Mobile software Startups in Southeast Asia and India

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Investment focus

  • Industry: Software, SaaS, Health Care
  • Stage:Seed, Series A, Series B
  • Geography: India, Singapore, Indonesia

Investor stats

  • Total investments: 68
  • Round size: Seed $560k–$4M; Series A $1.5M–$15M; Series B $4.3M–$40M
  • Lead/follow: 18% lead, 82% follow
  • Last fund: May invest from a new fund soon — raised $20M in 2015

Portfolio highlights

  • Stimuler — Speak daily with an AI coach. Get detailed reports on pronunciation, fluency, grammar, and vocabulary- plus day-wise roadmaps and mock practice.
  • Nivaan Care — Nivaan Care is a comprehensive chain of chronic pain management clinics. It focuses on providing multidisciplinary care using a biopsychosocial approach.
  • Virohan — Virohan is India's leading professional training partner of NSDC, providing paramedical diploma courses in MLT, OTT, HA, etc for 12th pass and graduates.
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Convergence Ventures
VC Fund · Jakarta, Jakarta Raya, Indonesia · 2 investments in Indonesia B2B startups

Convergence Ventures is an early stage technology venture fund focused on investing in Indonesia. Led by their partners Adrian Li and Donald Wihardja who are seasoned entrepreneurs with extensive operating experience in Internet businesses in emerging markets. They seek to back exceptional founders by leveraging their experience, network andresources to empower them to build long lasting and impactful businesses for Indonesia and the South East Asia region. Their Advisory Board and Limited Partners from the US, China and Indonesia have backed hundreds of technology businesses in the past decade and bring deep local networks and resources in media and related industries to their founders.

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Investment focus

  • Industry: Internet, Financial Services, FinTech
  • Stage:Series A, Seed, Series B
  • Geography: Indonesia, Singapore, Taiwan

Investor stats

  • Total investments: 62
  • Round size: Seed $1.1M–$3M; Series A $1.5M–$20M; Series B $7.5M–$60M
  • Lead/follow: 16% lead, 84% follow
  • Last fund: Likely still investing — fund raised in 2022

Portfolio highlights

  • JULO — JULO provides affordable unsecured personal loan (KTA) exclusively to smartphone users.They strive to provide low cost loan product to the masses while ensuring that it's economically viable to their lender partners. This is achieved by exercising prudent underwriting assessments to ensure that approved applicants are both able and willing topay back.They also reward positive behavior by giving cashback bonus and allowing good customers to borrow a higher amount at lower interest rate at loan maturity.
  • Danacita — Solusi pembiayaan, pendanaan & pinjaman dana pendidikan | Berizin & diawasi OJK | Cicilan kuliah dan kursus pelajar indonesia | Student Education Loan & Financing
  • Pandemic Insights — Know and Manage Health Risk Anywhere
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Vertex Ventures
VC Fund · Palo Alto, California, United States · 2 investments in Indonesia B2B startups

Vertex Ventures US is an early stage VC that backs fearless founders building a smarter digital economy through B2B software.

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Investment focus

  • Industry: Software, Information Technology, Artificial Intelligence
  • Stage:Series A, Series B, Series C
  • Geography: United States, China, Israel

Investor stats

  • Total investments: 476
  • Round size: Series A $3M–$40M; Series B $6.2M–$48M; Series C $10M–$100M
  • Lead/follow: 31% lead, 69% follow
  • Last fund: Likely still investing — raised $64M in 2024

Portfolio highlights

  • Zenity — Zenity empowers enterprises to enable AI Agents securely. Our platform ensures adaptive security and governance from buildtime to runtime.
  • Aternity — Unlocking the full potential of your digital experiences has never been more accessible. Illuminate, accelerate and fully leverage the full breadth of possibilities with Riverbed.
  • WABO Technology — WABO TECH develops task-conditioned neural intent models and the HAID platform, turning human choices, confirmations, corrections, and control signals into machine-readable input.
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Indogen Capital
VC Fund · Jakarta, Jakarta Raya, Indonesia · 2 investments in Indonesia B2B startups

Venture Capital Indonesia for sector agnostic investor in southeast asia. We are based in Jakarta with deep operating experience in Indonesia.

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Investment focus

  • Industry: Information Technology, E-Commerce, Supply Chain Management
  • Stage:Series A, Seed, Series B
  • Geography: Indonesia, Singapore, Taiwan

Investor stats

  • Total investments: 37
  • Round size: Seed $300k–$5M; Series A $1.8M–$30M; Series B $6.5M–$65M
  • Lead/follow: 3% lead, 97% follow

Portfolio highlights

  • Qoala — Asuransi online yang siap melindungi kamu dan orang tersayang, di mana aja, kapan aja. Premi murah, proses klaim mudah, dan 100% digital!
  • Jejakin — Kick off your sustainable journey with us
  • Noctua Games — Play by Noctua Games - Discover and play amazing games. Experience the ultimate gaming platform with instant play, gacha mechanics, and more.
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Skystar Capital
VC Fund · Jakarta, Jakarta Raya, Indonesia · 2 investments in Indonesia B2B startups

We are Skystar Capital, an early-stage VC firm committed to supporting tech entrepreneurs to create a lasting and profound positive difference in Southeast Asia and Indonesia.

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Investment focus

  • Industry: E-Commerce, Financial Services, FinTech
  • Stage:Seed, Series A, Series B
  • Geography: Indonesia, Singapore, Vietnam

Investor stats

  • Total investments: 61
  • Round size: Seed $850k–$5M; Series A $3M–$11M; Series B $6M–$60M
  • Lead/follow: 25% lead, 75% follow

Portfolio highlights

  • JULO — JULO provides affordable unsecured personal loan (KTA) exclusively to smartphone users.They strive to provide low cost loan product to the masses while ensuring that it's economically viable to their lender partners. This is achieved by exercising prudent underwriting assessments to ensure that approved applicants are both able and willing topay back.They also reward positive behavior by giving cashback bonus and allowing good customers to borrow a higher amount at lower interest rate at loan maturity.
  • Ledgerowl — From bookkeeping to tax, Ledgerowl is the all-in-one AI powered financial solution that your business can trust.
  • Rekosistem — Rekosistem is a Clean- & Climate-Tech Company that enables circular economy implementation in the waste supply chain by leveraging proprietary waste management operation systems to transform waste into recycled materials and renewable resources.
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Blue7
VC Fund · Singapore, Central Region, Singapore · 2 investments in Indonesia B2B startups

Blue7 is a Singapore based impact investor. We directly support passionate entrepreneurs with bold and effective solutions that address underserved needs in livelihood resilience, community development and environmental protection. We also invest in global impact funds as well as ESG scored listed equities.​Blue7 deploys a variety of financialinstruments ranging from debt to equity. Working with partners in Asia and beyond, our portfolio operates to create long term value for society and the environment.

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Investment focus

  • Industry: Information Technology, FinTech, Education
  • Stage:Series A, Seed
  • Geography: Indonesia, Singapore, Switzerland

Investor stats

  • Total investments: 9
  • Round size: Series A $3.8M–$11M
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Shardeum — Shardeum is an EVM-based, linearly scalable smart contract platform that maintains low gas fees while providing true decentralization and solid security
  • Binar — partner transformasi digital end-to-end untuk corporate training AI, IT outsourcing, dan IT consulting guna tingkatkan profit & produktivitas bisnis.
  • Koltiva — Koltiva is a farmer first global tech company empowering over 480,000 farmers and business users across 27 countries. We support some of the largest multinational companies by digitizing global supply chains and technology. Our focus is to enhance traceability, inclusiveness, and sustainability.
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The Meloy Fund
VC Fund · Arlington, Virginia, United States · 2 investments in Indonesia B2B startups

Small scale fisheries are in crisis. The Meloy Fund for Sustainable Community Fisheries creates opportunity for local fishers to secure more sustainable livelihoods.

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Investment focus

  • Industry: Seafood, B2B, CRM
  • Stage:Seed, Series A
  • Geography: Indonesia, Philippines

Investor stats

  • Total investments: 8
  • Lead/follow: 25% lead, 75% follow
  • Last fund: May invest from a new fund soon — raised $22M in 2018

Portfolio highlights

  • Jala Tech — JALA helps shrimp farmers increase cultivation production and efficiency in the shrimp industry.
  • PT. SIG ASIA — PT. SIG ASIA is a indonesian tuna processor.
  • Koltiva — Koltiva is a farmer first global tech company empowering over 480,000 farmers and business users across 27 countries. We support some of the largest multinational companies by digitizing global supply chains and technology. Our focus is to enhance traceability, inclusiveness, and sustainability.
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Wavemaker Ventures
VC Fund · Singapore, Central Region, Singapore · 2 investments in Indonesia B2B startups

Wavemaker Group is a cross-border venture capital firm founded in 2003 and one of the most active early-stage investors across multiple funds.

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Investment focus

  • Industry: Software, E-Commerce, Information Technology
  • Stage:Seed, Series A
  • Geography: United States, Singapore, Philippines

Investor stats

  • Total investments: 456
  • Round size: Seed $800k–$5M; Series A $2.5M–$19M
  • Lead/follow: 36% lead, 64% follow
  • Last fund: Likely still investing — raised $1.9M in 2023

Portfolio highlights

  • uHoo — uHoo monitors and manages your indoor environment to help you create healthier, safer and more comfortable homes and workplaces.
  • Shikho — Shikho is a Bangladeshi education technology company on a mission to revolutionise the way Bangladesh learns today and democratise access to a high quality education. It is building a hyper-localised digital learning ecosystem designed specifically for the Bangladeshi national curriculum to serve a growing total addressable market of ~42 millionstudents. "Shikho - The Learning App" is available on the Google Play Store.
  • Neocrete — Neocrete is a concrete manufacturing company that is involved in the manufacture of resilient and carbon-neutral concrete.
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Intudo Ventures
VC Fund · Jakarta, Jakarta Raya, Indonesia · 2 investments in Indonesia B2B startups

Intudo Ventures is an "Indonesia-only" venture capital firm with a concentrated portfolio approach capitalizing on the rapid growth of private consumption and the rising middle class in Indonesia.

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Investment focus

  • Industry: FinTech, Financial Services, Marketplace
  • Stage:Seed, Series A, Series B
  • Geography: Indonesia, Singapore, Hong Kong

Investor stats

  • Total investments: 54
  • Round size: Seed $500k–$4.3M; Series A $4M–$31M; Series B $4.3M–$66M
  • Lead/follow: 56% lead, 44% follow
  • Last fund: Likely actively investing — fresh fund, raised $75M in 2024

Portfolio highlights

  • Banyu — Banyu is a seaweed company that handles difficulties such as low-quality inputs, labor-intensive agricultural practices, and fluctuating market prices. It sells seaweed for food production, biofertilizers, and bioplastics.
  • Jago Coffee — Jago Coffee serves freshly brewed coffee beverages wherever you are through a fleet of fully electric mobile cafes.
  • Kozystay — Indonesia's largest short term rental property management Group. Managing high end rental premium apartments & luxury villas in Jakarta, Bali, Bandung, Surabaya & beyond!
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SOSV
VC Fund · Princeton, New Jersey, United States · 2 investments in Indonesia B2B startups, 75 in the past 12 months

SOSV is a global, deep tech venture capital firm that operates the HAX and IndieBio startup development programs focused on human and planetary health. SOSV invests $500,000 in startups at their inception as they onboard either HAX or IndieBio for a 4-6 month period designed to accelerate the raise of their next institutional round. SOSV joins thelater rounds of HAX and IndieBio graduates. HAX, based in a 35,000 sq ft facility in Newark, NJ, is equipped with machine tools, 3D printers, chemical, electrical and mechanical engineering labs, as well as on-staff engineering and design experts. SOSV's IndieBio has locations in NYC and San Francisco, both of which offer extensive services and facilities to founders including on-site BSL-2 labs, well equipped lab benches and hoods, and advanced lab equipment, such as chromatography equipment.

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Investment focus

  • Industry: Biotechnology, Health Care, Software
  • Stage:Seed, Convertible Note, Pre-Seed
  • Geography: United States, India, United Kingdom

Investor stats

  • Total investments: 1482
  • Lead/follow: no public data

Portfolio highlights

  • MixRift — MIXRIFT - game developers specialized in Mixed Reality
  • unspun — From 3D scan to perfect fitting custom jeans. unspun makes each pair of jeans unique to your actual body and design. On a mission to reduce global carbon emissions by 1%. As seen in Fast Company's World Changing Ideas, Time's Best Inventions, and PopSci's Best of What's New. Welcome to the future of apparel.
  • Mesa Quantum — Unlock the potential of chip-scale quantum sensing for enhanced Position, Navigation, And Timing capabilities. Explore Mesa Quantum's practical solutions.
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STRIVE
VC Fund · Tokyo, Tokyo, Japan · 2 investments in Indonesia B2B startups

STRIVE focuses on investing in early-stage (Seed to Series A) internet and mobile companies. It seeks out companies in Japan, Southeast Asia, and India with top-notch management teams and strong market potential. It is not tied to strategic investments for GREE Inc. and leverages its pan-Asia expertise for guiding its portfolio in an engaged,hands-on role.

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Investment focus

  • Industry: Software, E-Commerce, SaaS
  • Stage:Seed, Series A, Series B
  • Geography: Japan, India, Indonesia

Investor stats

  • Total investments: 147
  • Round size: Seed $740k–$6.6M; Series A $1.2M–$43M; Series B $3.3M–$47M
  • Lead/follow: 32% lead, 68% follow
  • Last fund: May invest from a new fund soon — raised $10B in 2019

Portfolio highlights

  • ASUENE — Asuene involves in clean power retail business, retail SaaS business, etc.
  • Recompound — Recompound is a financial services startup that acts as a personal investment advisor for individuals to grow their stock market portfolios.
  • Testsigma — Powerful cloud-based test automation platform that lets you automate tests for web, mobile, desktop apps, and APIs in minutes. Sign up now!
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iSeed
VC Fund · Bangalore, Karnataka, India · 2 investments in Indonesia B2B startups

iSeed is India's first micro-fund backed by top global founders and investors.

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Investment focus

  • Industry: Software, Health Care, Financial Services
  • Stage:Seed, Series A, Pre-Seed
  • Geography: India, United States, Indonesia

Investor stats

  • Total investments: 117
  • Round size: Seed $457k–$6M; Pre-Seed $500k–$2.8M; Series A $427k–$15M
  • Lead/follow: 8% lead, 92% follow
  • Last fund: May invest from a new fund soon — raised $15M in 2021

Portfolio highlights

  • UGX.ai — Connect, Process, and Optimize your industrial operations with our comprehensive DataOps platform
  • Fleek — Fleek is a subscription management app that helps you track, manage and split all your subscriptions, in one app. Discover new subscriptions and win cashbacks for renewing. Get The App for Free, Now!
  • M2P Fintech — Core banking, lending and payment services from the leading fintech startup in India. We empower fintechs, banks, and businesses with custom APIs for a wide range of financial services
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Ashwin Tiwari
Angel · 2 investments in Indonesia B2B startups

Founder and CEO @ AdaKerja

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Investment focus

  • Industry: B2B, Apps, Internet
  • Stage:Seed
  • Geography: Indonesia

Investor stats

  • Total investments: 2
  • Round size: Seed $275k–$459k
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • AdaKerja — AdaKerja aims to be the super app that transform economies by providing the often ignored blue and grey collar earn, grow and protect their income.
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Silverstrand Capital
VC Fund · Singapore, Central Region, Singapore · 2 investments in Indonesia B2B startups

Silverstrand is a Singapore-based family office investing in regenerative agriculture and nature-based solutions

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Investment focus

  • Industry: Agriculture, Manufacturing, Information Technology
  • Stage:Seed, Series A, Pre-Seed
  • Geography: Australia, Singapore, United States

Investor stats

  • Total investments: 15
  • Round size: Seed $1.5M–$5.6M; Pre-Seed $900k–$2.5M; Series A $4.3M–$7.9M
  • Lead/follow: 47% lead, 53% follow

Portfolio highlights

  • Greenitio — High-performance functional biopolymers powered by green chemistry.
  • Agros — Agros exist to make farming economically viable and environmentally sustainable. The company provides farmers with carbon-reducing and income-increasing products and services, from input to market. Their unique ecosystem approach aggregates different low-carbon technologies, bundled with affordable finance, insurance, advisory and market access.Agros’ mission is to double the income of millions of farmers while reducing 100 megatons of annual carbon emissions.
  • Ocean Ledger — Precision analytics to design, implement & monitor coastal mitigation and adaptation.
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Openspace Capital
VC Fund · Singapore, Central Region, Singapore · 2 investments in Indonesia B2B startups

Openspace Ventures is a leading venture capital firm finding and backing Southeast Asian companies creating a transformative impact where tech meets life.

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Investment focus

  • Industry: E-Commerce, Financial Services, Software
  • Stage:Series A, Series B, Seed
  • Geography: Singapore, Indonesia, Philippines

Investor stats

  • Total investments: 136
  • Round size: Seed $2.6M–$13M; Series A $1.7M–$20M; Series B $10M–$55M
  • Lead/follow: 38% lead, 62% follow
  • Last fund: Likely still investing — raised $25M in 2022

Portfolio highlights

  • Every Half Coffee Roasters — Roasting & Brewing finest quality of specialty coffee bean from Vietnam and the world. We believe that every half bean has its soulmate. Let's find yours
  • Eunice — Eunice combines extensive on-chain data with powerful off-chain insights to provide a customisable, AI-driven due diligence and monitoring solution
  • Video Rebirth — Video Rebirth Limited is a private limited company that is established with shares.
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Lightspeed India Partners
VC Fund · New Delhi, Delhi, India · 2 investments in Indonesia B2B startups

Lightspeed Venture Partners has invested in direct and cross-border. They invest across several stages and sectors, including technology-led businesses as well as non-technology opportunities in sectors such as advertising and media, business services, financial services, healthcare, education, and retail.

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Investment focus

  • Industry: Financial Services, Software, Information Technology
  • Stage:Seed, Series A, Series B
  • Geography: India, United States, Indonesia

Investor stats

  • Total investments: 206
  • Round size: Seed $1.7M–$11M; Series A $4M–$35M; Series B $15M–$87M
  • Lead/follow: 46% lead, 54% follow
  • Last fund: Likely still investing — raised $500M in 2022

Portfolio highlights

  • Airbound — Welcome to Airbound, where we're reaching the unreachable with our zero infrastructure deliveries. Discover our innovative solutions for efficient and sustainable delivery systems.
  • Stimuler — Speak daily with an AI coach. Get detailed reports on pronunciation, fluency, grammar, and vocabulary- plus day-wise roadmaps and mock practice.
  • Centricity — Invest with expert guidance at Centricity. Access mutual funds, PMS, AIFs, offshore investments and tailored wealth solutions for individuals and family offices.
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DS/X Ventures
VC Fund · Singapore, Central Region, Singapore · 2 investments in Indonesia B2B startups

DS/X Ventures is an investment firm that uses data, expertise, and a huge array to find and aid startups who want to go global. Founded in 2022 and is based in Singapore.

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Investment focus

  • Industry: Information Technology, B2B, FinTech
  • Stage:Seed, Pre-Seed
  • Geography: Indonesia, Singapore

Investor stats

  • Total investments: 5
  • Round size: Seed $1M–$4.1M
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Baskit — baskit | Empowering wholesalers and distributors with the world's first cloud-native all-in-one app
  • Cazh Cards — Aplikasi sekolah & pesantren digital: SPP online, PPDB, kartu siswa & santri, absensi, kantin cashless & rapor digital. Coba demo gratis Cazh Cards.
  • Finfra — From application to decisioning to operations - FINFRA provides the necessary infrastructure and services for technology companies to embed financial services to their environment through a seamless integration.
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Heyokha Brothers
VC Fund · Hong Kong, Hong Kong Island, Hong Kong · 2 investments in Indonesia B2B startups

Heyokha Brothers is an investment management firm.

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Investment focus

  • Industry: Finance, Financial Services, Lending
  • Stage:Series A, Seed, Series B
  • Geography: Indonesia

Investor stats

  • Total investments: 5
  • Round size: Series A $5M–$13M
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Vospay — Plafon kredit siap pakai untuk belanja barang apapun dengan cicilan hingga 24 bulan. Belanja sekarang, bayar nanti di merchant mitra Vospay. Ajukan kredit hingga 12 bulan.
  • Fuse — Fuse is an insurance application that will allow you to do all insurance activities. One mobile application and a variety of interesting features, such as registering as a partner, comparing policies, and selecting the best policy to protect the future. Smart insurance innovation that is paperless.
  • Hangry — Hangry is a multi-brand restaurant company focusing on serving great foods through food delivery channels. We own several food brands ranging from fried-chicken to coffee. We focus in designing foods that are very tasty, consistent, and affordable to the mass market. All our recipes have gone through tons of testing to make sure each bite is reallydelicious.
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Orvel Ventures
VC Fund · 2 investments in Indonesia B2B startups

Orvel is a venture capital firm investing early-stage technology companies, primarily seed stage, in Southeast Asia

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Investment focus

  • Industry: Financial Services, Information Technology, Artificial Intelligence
  • Stage:Seed, Series A, Pre-Seed
  • Geography: Indonesia, Singapore, Thailand

Investor stats

  • Total investments: 17
  • Round size: Seed $1M–$4.5M; Pre-Seed $958k–$4M; Series A $4.4M–$7M
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Baskit — baskit | Empowering wholesalers and distributors with the world's first cloud-native all-in-one app
  • Formas.AI — The Best AI Orchestrator for Architecture, Interior Design & Spatial Planning. Sketch to Image, Instant Video Narratives, 3D Rendering, Vibe Architecture.
  • Investbanq — AI-powered digital investment platform for underserved affluent investors
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Mandiri Capital Indonesia (MCI)
VC Fund · Jakarta, Jakarta Raya, Indonesia · 2 investments in Indonesia B2B startups

Mandiri Capital Indonesia (MCI) is a Corporate Venture Capital arm of Bank Mandiri, the largest integrated financial service group in Indonesia with US$70 B+ Assets, 20 M+ Retail Customers, 5 K+ outlets, and more than 7 international offices.MCI is highly strategic and agile investors predominantly within financial service industry in Indonesiaby facilitating enterprise partnerships between portfolio startup and Bank Mandiri Group network of 20+ strategic subsidiaries and business units in assist startups to be the next global players.

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Investment focus

  • Industry: FinTech, Financial Services, Information Technology
  • Stage:Series B, Series A, Seed
  • Geography: Indonesia

Investor stats

  • Total investments: 41
  • Round size: Seed $500k–$7.7M; Series A $1M–$35M; Series B $5M–$65M
  • Lead/follow: 41% lead, 59% follow
  • Last fund: Likely still investing — fund raised in 2023

Portfolio highlights

  • Ayoconnect — API pulsa, token listrik, e-money, dan PPOB terlengkap. Ayoconnect menghubungkan 50+ platform ke 3.000 produk digital.
  • FishLog — FishLog is fisheries supply chains ecosystem. Our vision is to transform fragmented fisheries supply chains into an integrated and efficient ecosystem with reliable solutions that create value along fisheries network. Our mission is to be the largest fisheries network in Indonesia. Offer complete fisheries post-harvest management services. Creatinga transparant, fair-trade and sustainable transaction along fisheries ecosystem with all stakeholders in our network.
  • PT FitAja Digital Nusantara — PT FitAja Digital Nusantara operates in the information technology industry, focusing on health and fitness. The company offers a digital health application, FitAja, which is integrated with various health insurances. The application provides a range of healthcare services, including doctor consultations and an online pharmacy. The company alsooffers mobile application services. The FitAja app is available for both iPhone and iPad users, and it requires iOS 11.0 or later. The company has a team of 13 employees.
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Gentree Fund
VC Fund · Singapore, Central Region, Singapore · 2 investments in Indonesia B2B startups

Gentree Fund is a VC Fund for Philippine startups that invests in early and growth stage, providing startup funding and key connections of Sy family principals.

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Investment focus

  • Industry: Software, B2B, Retail
  • Stage:Seed, Series A, Series C
  • Geography: Philippines, United States, Indonesia

Investor stats

  • Total investments: 23
  • Round size: Seed $1M–$5M; Series A $2.1M–$40M; Series C $30M–$60M
  • Lead/follow: 26% lead, 74% follow

Portfolio highlights

  • Quadric — quadric.io is a Burlingame, CA-based processor technology company. The q16 Processor is the most comprehensive AI processor that handles any AI and high-performance edge workload.
  • Whale — Whale provides an omnichannel marketing platform that transforms marketing operations, digitalizes store operations and unifies offline & online brand experiences leveraging AI + IoT + Big Data to “Connect Brands with Customer”.Founded in 2017, Whale has since empowered 400+ global FMCG, F&B, Fashion and Automotive brands includingP&G, Unilever, Starbucks, UNIQLO, ARMANI, Watsons, Xiaomi, Midea, Lotus, POP MART etc. with over 150,000 stores across APAC, enabling brands to embrace the full potential of digital transformation.Equipped with AI capabilities, patented ReID technology and enterprise-grade security, Whale platforms comprising of Space Data Platform (SDP), Whale Marketing Cloud (WMC), Whale Open Platform (WOP) and Whale Analytics, serve as the end-to-end digitalization engine that enables brands to seamlessly engage with each customer.Whale is backed by Temasek Holding, NIO Capital, Source Code Capital, Linear Capital, Alpha Commune, BAI Capital and The Jiangmen, with 6 offices across Singapore, Hangzhou, Shanghai, Beijing and Shenzhen.
  • RQD Clearing — RQD Clearing delivers the technology, solutions, and business model brokers expect from a correspondent clearing. They are built entirely on cloud-native, real-time technology and offer an implementation that scales as clients.
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Planet Rise
VC Fund · 2 investments in Indonesia B2B startups

Planet Rise

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Investment focus

  • Industry: B2B, CRM, Software
  • Stage:Seed, Series A
  • Geography: Indonesia

Investor stats

  • Total investments: 3
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Koltiva — Koltiva is a farmer first global tech company empowering over 480,000 farmers and business users across 27 countries. We support some of the largest multinational companies by digitizing global supply chains and technology. Our focus is to enhance traceability, inclusiveness, and sustainability.
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Indies Capital Partners
VC Fund · Singapore, Central Region, Singapore · 2 investments in Indonesia B2B startups

Indies Capital Partners is an asset manager for private credit and special situations. The firm formed a strategic alliance with Värde Partners, a global alternative investment firm, to co-invest in private credit opportunities in Indonesia. It was founded in 2009 and headquartered in Singapore, Central Region.

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Investment focus

  • Industry: E-Commerce, FinTech, Lending
  • Stage:Series B, Series C, Seed
  • Geography: Indonesia, Singapore, Malaysia

Investor stats

  • Total investments: 12
  • Round size: Series C $144M–$144M
  • Lead/follow: 25% lead, 75% follow
  • Last fund: Likely actively investing — fresh fund, raised $300M in 2025

Portfolio highlights

  • Modalku — Platform pinjaman dana usaha dan pendanaan dari Modalku untuk UMKM di Indonesia. Ajukan dana usaha tunai atau mulai danai UMKM sekarang.
  • Air Asia — Download AirAsia MOVE today and get only the best deals on flights, hotels, ride and more! Completing your travel, all in one app.
  • Funding Societies — As the largest SME digital financing platform in Southeast Asia, we specialise in short-term financing for SMEs and investors. Learn more about our financing or investment solutions.
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Forge Ventures
VC Fund · Singapore, Central Region, Singapore · 2 investments in Indonesia B2B startups

Forging the future alongside founders in Southeast Asia.

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Investment focus

  • Industry: Artificial Intelligence, SaaS, EdTech
  • Stage:Seed, Pre-Seed
  • Geography: Singapore, Indonesia, Philippines

Investor stats

  • Total investments: 23
  • Round size: Seed $1.1M–$5.1M; Pre-Seed $500k–$5M
  • Lead/follow: 70% lead, 30% follow
  • Last fund: Likely still investing — raised $24M in 2021

Portfolio highlights

  • Hati Health — Hati Health is a digital platform that helps Filipino families access trusted clinics, doctors, and wellness services with ease. From booking medical consultations to transparent pricing for diagnostics and mental health support, Hati Health bridges the gap between patients and quality care, now with the added convenience of Insurance integration.Beyond individual care, Hati Health also partners with employers to deliver workplace health and wellness programs that support employees’ needs beyond traditional HMO coverage, helping organizations care for their teams more holistically.
  • Prefer — delicious. affordable. sustainable. bean-free coffee.
  • Blue Whale Energy — Blue Whale Energy connects and optimises distributed batteries across Singapore, helping businesses and solar developers unlock new revenue streams while supporting a cleaner, more reliable grid.
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10K Ventures
VC Fund · Berlin, Berlin, Germany · 1 investments in Indonesia B2B startups

10K Ventures is the investment arm of Hansol Joo & Kim Diocampo. Investing in early stage startups and funds globally.

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Investment focus

  • Industry: FinTech, E-Commerce, Financial Services
  • Stage:Seed, Pre-Seed
  • Geography: Brazil, Spain, Germany

Investor stats

  • Total investments: 23
  • Round size: Seed $800k–$20M; Pre-Seed $1.5M–$6.5M
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Flow48 — Flow48 is a platform that allows companies to access capital by providing revenue-based finance services.
  • PumpBTC — PumpBTC is a liquid staking protocol that aims to help Bitcoin holders to stake their bitcoins and earn yield while bolstering the security.
  • Syra Coffee — Syra Coffee was launched in Barcelona in 2015 as a hole-in-the-wall coffee shop with the simple purpose to “Make good coffee everyone’s daily habit”. To achieve that, they knew they had to keep it simple, thus, since day one, their focus was on one thing only: Good coffee to go. They always found drinking coffee to be an experience rather than justa commodity. That first sip of coffee to kick start their day is more influential than we think. Starting their day with a well crafted cup can momentarily put their minds at ease and give them a sense of bliss, a feeling they were determined to spread to as many people as possible. And to make it happen, they have embarked on a journey of learning with passion to develop the systems of cupping, testing, and training with extreme care so they can present the best coffee, every time both in their coffeeshops and at home.
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Betatron Venture Group
VC Fund · Sheung Wan, Hong Kong Island, Hong Kong · 1 investments in Indonesia B2B startups

Betatron Venture Group is a venture capital firm that invests in early-stage companies.

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Investment focus

  • Industry: Information Technology, Software, E-Commerce
  • Stage:Seed, Series A, Pre-Seed
  • Geography: Hong Kong, India, Singapore

Investor stats

  • Total investments: 43
  • Lead/follow: no public data

Portfolio highlights

  • Toku — Toku is a software provider that creates bespoke cloud communications and customer engagement solutions to reimagine customer experiences for enterprises. We offer an end-to-end approach to help businesses overcome the complexity of digital transformation in APAC markets. Enhance your customer experience with our unique blend of local strategic consulting expertise, bespoke technology, regional in-country infrastructure, connectivity, and global reach.
  • ZhenHub — We provide eCommerce shipping software, fulfillment centers, global partnerships, strategically-located warehouses & multichannel integrations. [More...]
  • Bookairfreight — Save more than 20% on international door-to-door shipping. We're a one-stop freight solution for SMEs, ecommerce, and Amazon Merchants. Get a quote now!
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Moses Lo
Angel · San Francisco, California, United States · 1 investments in Indonesia B2B startups

Founder and CEO at Xendit

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Investment focus

  • Industry: Information Technology, Financial Services, Software
  • Stage:Pre-Seed, Series B, Seed
  • Geography: Indonesia, India, Singapore

Investor stats

  • Total investments: 7
  • Lead/follow: no public data

Portfolio highlights

  • Baskit — baskit | Empowering wholesalers and distributors with the world's first cloud-native all-in-one app
  • Super — Super is the first Indonesian consumer technology company backed by Y Combinator, which oversees the main feature, Superagen. Superagen is agent-led commerce group buying that enables community leaders to become retailers within their communities.We use technology to: 1) Empower community leaders to become self-made entrepreneurs by enabling themto sell various products to their communities2) Build a logistics network with the lowest cost3) Facilitate communication for social-buying behavior so our agents can sell various products through social networks like WhatsApp
  • Clear Street — Our cloud-native platform gives institutions and active traders better access to capital markets.
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Goodwater Capital
VC Fund · Burlingame, California, United States · 1 investments in Indonesia B2B startups

Consumer Tech Investors - We empower exceptional entrepreneurs everywhere to change the world for good.

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Investment focus

  • Industry: FinTech, Financial Services, Software
  • Stage:Seed, Pre-Seed, Series A
  • Geography: United States, India, South Korea

Investor stats

  • Total investments: 456
  • Lead/follow: no public data

Portfolio highlights

  • IRL — Groups, Chats, Events - Tap to see details
  • Jerry — Jerry simplifies the expensive, frustrating, and time-consuming aspects of car ownership.
  • Empowerly — We triple students' chances of getting into their top-choice colleges and universities. Get college counseling, essay editing, track university deadlines, and more. Learn more.
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GMO VenturePartners
VC Fund · Tokyo, Tokyo, Japan · 1 investments in Indonesia B2B startups

An investment that restructures the value and quality.Supplying big capital is not an essential value of our firm.We have a strong attitude to input and drive critical thinking behind a new startup.After the problem is clarified and solution become established in the world,people could not imagine the society without that solution.An investment that innovates this world.We will become a real partner to execute the strategy together.INVENTION OF THE ESSENCE ----we will keep on doing it.

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Investment focus

  • Industry: Financial Services, FinTech, Software
  • Stage:Seed, Series A, Series B
  • Geography: Japan, United States, India

Investor stats

  • Total investments: 163
  • Round size: Seed $1.3M–$71M; Series A $1.5M–$85M; Series B $3M–$213M
  • Lead/follow: 9% lead, 91% follow
  • Last fund: May invest from a new fund soon — raised $415M in 2018

Portfolio highlights

  • Balus — Balus provides motion capture, Unity systems, and AR live permanent venues.The company provides character content infrastructure using real-time animation, we also support the production of original content. Balus provides the necessary technology for event planning, casting, VR events, recording and creation of production images, real-timemotion capture during live events, real-time transmission, event management, and systems that allow users to participate in the production.
  • Aperza — Aperza's mission is to contribute to redesigning the manufacturing industry by eliminating three barriers in the industry which are the barrier of information, transaction and communication which most of companies and people often face in this industry.Manufacturing industry is Japanese core industry. We would like to contribute to therebirth of this industry by those activities such as supporting those companies who challenges the global market and supporting those start-ups who tries brand-new industry trend such as Industry 4.0, smart factory or IoT. We believe that this lead to the increase of the people in this industry, and the growth of the industry eventually.
  • Leaner Technologies — Leaner Technologies provides cloud-based software for cost reduction analysis.
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Kejora Capital
VC Fund · Jakarta, Jakarta Raya, Indonesia · 1 investments in Indonesia B2B startups

We are the catalyst for Asia’s brightest founders to build successful, high-growth leading companies across the region. Founded in 2014, Kejora is the leading venture capital firm that operates in the largest tech ecosystem in Southeast Asia. Since operating, Kejora has invested in over 35 startups in Asia and created more than 91,000 jobsglobally. We are continuously focused on investing, building, and growing highly scalable businesses.

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Investment focus

  • Industry: Financial Services, E-Commerce, FinTech
  • Stage:Seed, Series B
  • Geography: Indonesia, Singapore, Malaysia

Investor stats

  • Total investments: 30
  • Round size: Seed $15k–$5M; Series B $30M–$170M
  • Lead/follow: 43% lead, 57% follow
  • Last fund: May invest from a new fund soon — raised $30M in 2020

Portfolio highlights

  • GoCement — Tempatnya jual beli bahan bangunan online terlengkap berkualitas dan harga murah di Indonesia. Cari kebutuhan alat dan bahan bangunanmu, hanya di GoCement
  • Investree — PT Investree Radhika Jaya, atau lebih dikenal dengan nama Investree, merupakan perusahaan teknologi finansial (fintech) yang berfokus pada layanan peer to peer lending
  • Sicepat Express — Sicepat Express provides several services to support businesses and puts forward practical solutions for e-commerce. SiCepat Ekspres has branches and outlets spread across cities in Indonesia. The company currently provides last-mile, warehousing and fulfillment, commerce-enabling services, online distribution, and middle-mile logistic.It wasfounded in 2004 and headquartered in Jakarta Pusat, Jakarta Raya.
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Finch Capital
VC Fund · Amsterdam, Noord-Holland, The Netherlands · 1 investments in Indonesia B2B startups

Backing entrepreneurs to build Financial Technology market leaders in Europe and South East Asia. Finch Capital invests in financial services, real estate tech, insurance tech, etc.

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Investment focus

  • Industry: FinTech, Financial Services, Software
  • Stage:Series A, Seed, Series B
  • Geography: United Kingdom, The Netherlands, Ireland

Investor stats

  • Total investments: 76
  • Round size: Seed $252k–$5.5M; Series A $2.7M–$16M; Series B $5M–$55M
  • Lead/follow: 55% lead, 45% follow
  • Last fund: May invest from a new fund soon — raised $159M in 2021

Portfolio highlights

  • Fixico — The digital car repair management platform helping you find the best repair solution, always.
  • Better.co.uk — Join thousands of homeowners with mortgage advice you can trust. Rated 4.9 on Trustpilot from over 9,000 reviews. We are your leading free online mortgage broker.
  • Goodlord — Goodlord is the award-winning lettings platform that works alongside your CRM to manage the entire tenancy process in one place.
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ATM Capital
VC Fund · Beijing, Beijing, China · 1 investments in Indonesia B2B startups

ATM Capital is an early-to-growth-stage venture fund. The company focuses on three main sectors with growth potential: logistics and e-commerce supporting infrastructure, consumption, fintech, and insurtech. They aim to invest in startups in the region and provide them with growth capital, human resources, and strategic resources.

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Investment focus

  • Industry: Publishing, Advertising, Communities
  • Stage:Seed, Series C, Series A
  • Geography: Indonesia, China, Singapore

Investor stats

  • Total investments: 11
  • Lead/follow: 45% lead, 55% follow
  • Last fund: May invest from a new fund soon — last raise in 2019

Portfolio highlights

  • Jet Commerce — Jet Commerce is a e-commerce digital marketing company located in Jakarta.
  • Thin Red Line — Thin Red Line dedicates the software and hardware opportunities of the AR track.
  • WonderMind — WonderMind is a K12 education technology company that is involved in education. It employs innovative teaching technology and methodologies to create a vibrant learning environment and enhance students' learning outcomes and creativity.
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B2B Investor funding in Indonesia at a glance

Stats across 105 deals from 184 investors.

184
investors
in Indonesia B2B startups
105
deals
in Indonesia B2B startups
$5.5M
median round
in Indonesia B2B startups
35%
lead investors
lead at least one round
27%
Seed
most common funding stage
87/13
VC / Angel
share of investor count

Access all 184 investors in Indonesia B2B startups.

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