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View all search resultsThe court also sentenced each firm with a Rp 1 billion (US$56,447) fine after finding them guilty of receiving benefits from the corruption case surrounding two venture capital arms of state-owned enterprises (SOEs) to the agricultural tech start-up.
The case centers on US$25 million in investments made between 2019 and 2023 by BRI Ventures and MDI Ventures, the venture capital arms of state-owned firms BRI and Telkom, respectively, into agritech start-up PT Tani Group Indonesia (TaniHub).
As prosecution of digital pioneers has become commonplace, a deeper crisis emerges: a nation that enthusiastically celebrates start-up hypergrowth but lacks the analytical tools to distinguish strategic risk from structural failure.
From the unravelling of eFishery saga to corruption probes ensnaring venture capital executives tied to state-backed funding at TaniHub, the year stripped the gloss from Southeast Asia’s most coveted start-up market.
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