Global investing firm Capria Ventures has invested an undisclosed amount in Indonesian VC firm AC Ventures.
As per a press release, the partnership aligns with Capria’s plans to invest and impact in Southeast Asia, India, Latin America and Africa.
Capria will look to co-invest directly in the portfolio companies, alongside AC Ventures, in breakthrough solutions with global potential.
AC Ventures is Capria’s fifth fund manager of Capria in Asia, which has 14 partnerships globally.
“AC Ventures and Capria share a similar approach as hands-on, value-adding investors bringing hi-octane capital that supports founders with collective experience, network and resources,” said Dave Richards, co-founder and managing partner of Capria.
“Capria’s global experience in startups from the 14 partnerships bring an edge to identifying and understanding emerging market ventures. AC Ventures’ proven leadership in sourcing local startups at an early stage along with their track record of supporting founders reinforced our investment decision,” he added.
Formed in 2019 as a merger between Convergence Ventures and Agaeti Capital Ventures, AC Ventures has a total asset under management of US$300 million.
The VC firm is currently raising a new fund of about US$120 million, which is expected to be closed this year. It aims to invest between US$1 million and US$10 million in early-stage companies in Indonesia and Southeast Asia across sectors such as e-commerce, logistics, fintech, MSMEs, and digital media-enabled businesses.
Since its first close at US$80 million in 2020, AC Ventures Fund III claims to have achieved over 2.5x gross return on invested capital in unrealised gains and witnessed over 25 follow-on funding rounds into its portfolio startups.
Capria is a global VC firm with expertise investing in fintech, edutech, jobtech, logistics/mobility, agtech/food, and healthcare in the Global South. It invests in regional soonicorns and also backs local and regional fund managers with capital and strategic support.
Capria has offices in Seattle, Bangalore, Nairobi, Santiago and Washington D.C.
Indonesia’s internet economy has been growing with an average annual growth rate of 49 per cent since 2015. This growth pace has exceeded all expectations and is on track to cross US$130 billion by 2025. With this acceleration, Indonesia has welcomed six regional unicorns so far, including Gojek and Tokopedia (which have merged into GoTo Group), Traveloka, OVO, Bukalapak, and J&T Express.
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Image credit: AC Ventures
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