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Jakarta Post

Indonesia remains Southeast Asia’s gem for venture capital

  • Yunindita Prasidya

    The Jakarta Post

PREMIUM
Jakarta   /   Mon, October 26, 2020   /  07:22 am
The Jakarta Post Image
In the business sense, a unicorn is any privately held start-up valued at over US$1 billion. The choice of the mythical animal alludes to the rarity of such start-ups.(Shutterstock.com/fatmawati achmad zaenuri)

Despite the challenging environment the COVID-19 pandemic has created for start-ups seeking to raise funds, investors have signaled there is still an appetite to invest in Indonesia, albeit with more calculations involved. During a webinar hosted by The Jakarta Post in August, Sequoia Capital Singapore managing director Abheek Anand noted that Indonesia was one of the few large economies in the region that could support multiple stand-alone domestic businesses that made sense for large investors like Sequoia to invest in, suggesting that the country’s potential for start-up growth lay in its ever-expanding domestic market. “The reality is that the overall dollar of venture capital that is coming in for start-ups in Indonesia is far more than what’s coming into any other country in Southeast Asia,” Anand said.  According to data from start-u...