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Jakarta Post

Mandiri Capital to invest $5m in start-ups

  • The Jakarta Post

Jakarta   /   Fri, March 13 2020   /  02:02 am

PT Mandiri Capital Indonesia (MCI), a subsidiary of Bank Mandiri, is looking to expand its investment portfolio in start-ups as part of its long-term strategy to tap into the rapid growth of the country’s digital business sector, the company’s top executive has said.MCI president director Eddi Danusaputro said the company would provide an initial investment of up to US$5 million for creative and innovative start-ups, particularly those engaged in payments so they could cooperate with its parent company Bank Mandiri.MCI would give out between $2 million to $5 million to acquire at least 10 percent of the start-up’s shares, Eddi explained.“We have run this business for four years and have invested in 13 start-ups,” he said at the Mandiri Investasi Market Outlook event in Jakarta on March 5. He previously said the company planned to invest in three start-ups this year.Since 2016, ...