Please Update your browser

Your browser is out of date, and may not be compatible with our website. A list of the most popular web browsers can be found below.
Just click on the icons to get to the download page.

Jakarta Post

Telkom arm aims to be Indonesia’s SoftBank

  • Norman Harsono

    The Jakarta Post

Jakarta   /   Thu, August 8 2019   /  02:06 am

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 (start-ups Whispir, Wavecell and Red Dot) an...