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Mandiri to hold quarterly business matchmaking events for start-ups
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A teller for state-owned bank Mandiri assists a customer in this undated photo. (Antara/Nova Wahyudi)
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T Mandiri Capital Indonesia (MCI), state-owned lender Bank Mandiri’s venture capital arm, announced on Wednesday that it would begin holding its Xponent business matchmaking event for start-ups on a quarterly basis.
The event was first held in October of last year and involved more than 40 start-ups and 20 business divisions under Bank Mandiri. It resulted in five partnerships between start-ups and Mandiri divisions.
This year, Xponent will be held on a quarterly basis, with the first event in March. Last year, it was held only once.
“We learned a lot [from the last Xponent]. Now we want to do it every quarter,” said MCI chief investment officer Dennis Pratistha on Wednesday.
The e-Conomy SEA report published on Tuesday by Google, Temasek and Bain & Company estimates that Indonesia’s digital economy reached US$77 billion in gross merchandise value (GMV) in 2022, up 22 percent from the year before.
The report also predicts that figure will grow to between $220 and $360 billion by 2030.
Dennis said MCI’s unique selling point lay in its access to Bank Mandiri’s ecosystem, which covered a wide range of sectors.
