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Jakarta Post

Telkom’s investment arm aims to be SoftBank of Indonesia

  • Norman Harsono

    The Jakarta Post

PREMIUM
Jakarta   /   Wed, August 7, 2019   /  10:29 am
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Metra Digital Innovation (MDI) expects to raise between $100 million and $150 million from its parent company Telkom Indonesia and other foreign companies next year.(Kontan/-)

With the support of its parent company Telkom Group, Metra Digital Innovation (MDI) Ventures capital investment companies aims to become the Softbank of Indonesia. MDI wants to replicate the success story of Japanese telecommunications giant SoftBank’s namesake investment arm in tapping into the rapidly growing capital business in the country, the company’s chief investment officer Joshua Agusta said, adding that the company’s investment returns from its venture capital business were quite encouraging. He said the company’s total gains from one undisclosed exit last year alone reached Rp 24 billion (US$1.7 million),which is equal to 1.5 percent of Telkom’s Rp 1.55 trillion net profit growth in 2018. MDI’s internal rate of return, Joshua continued, also increased from 28 percent last year to 40 percent this year following three exits (startups Whi...