Finch Capital and MDI Ventures launch a US$40m pre-Series A fund

arise

The corporate venture arm of state-owned Telkom Indonesia, MDI Ventures has partnered with fintech-focused VC firm Finch Capital to launch a new early-stage investment fund name Arise according to press statement.

According to the statement, Arise fund will be run under a joint venture by the two founding firms and will aim to invest in Indonesia-focused tech startups in Southeast Asia.

The fund targets to amass US$40 million in assets under management and will aim to invest an average of US$250,000 to US$3 million in startups in the post-seed to Series A range.

The fund seeks to provide portfolio companies with a clear roadmap to validate, grow, scale, and eventually exit.

“A disproportionate allocation of capital makes it even more challenging for promising early-stage companies to secure investments during the region’s economic slowdown,” explained Aldi Adrian Hartanto, Partner at Arise.

“Many of these seed startups already show great early traction, but they have yet to really get their names out there and require further support in accelerating their product-market fit in order to raise proper Series A rounds,” he added.

Ririek Adriansyah, CEO at Telkom Group, said: “This is a key component of how we build the strongest national economy possible in Indonesia and establish a truly modernised state-owned business sector.”

“Startups backed by Arise should ideally go on to receive investment from Centauri Fund at the Series A stage, MDI Ventures at Series B and later stages, and finally see a meaningful exit via acquisition with Telkom Group as one of the potential buyers or IPO,” Hartanto concluded.

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