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Telkomsel's rebranded VC arm plans flurry of investment
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Telkomsel Ventures CEO Mia Melinda speaks at a press briefing in Jakarta on Nov. 23, 2023 to announce the company's rebranding and investment plans (Telkomsel Ventures/-)
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elkomsel Mitra Inovasi (TMI), the venture capital arm of state-owned telecommunications operator Telkomsel, has rebranded itself as Telkomsel Ventures and launched a second fund to invest in digital economy firms.
The new fund will back start-ups that align with the company’s strategic priorities of digital lifestyle, digital empowerment and emerging technologies, Telkomsel announced in a press release on Friday.
According to Bisnis.com, Telkomsel Ventures' chief investment officer William Gozali said the company intended to invest in several start-ups next year.
“We will focus on quality, so it’s about how we can create a creation. If we look at our average [investment] per year, we can invest in around five to seven start-ups. In an election year, that could be lower or higher, but we’ll do it naturally,” William said.
Read also: Analysis: Merah Putih Fund targets “soonicorns” with $300 million initial funding
Telkomsel Ventures CEO Mia Melinda said on Thursday that the rebranding signified the company’s commitment to staying relevant and adaptable in support of Indonesia's start-up ecosystem.
“With the latest milestone, Telkomsel Ventures is committed to continuously supporting the diverse technology ecosystem in the country and assisting the business entities that are part of our investment in reaching their optimal pinnacle,” Mia said.
