Participated · Series B · Oct 2021

Founded in 2016, PrivyID provides a comprehensive digital trust platform that includes digital identity issuance, legally binding electronic signatures, e-KYC verification, and document management services. The company serves a broad range of sectors such as financial services, healthcare, and education and was the first non-government entity licensed as a Certificate Authority by Indonesia’s Ministry of Communication and Information Technology. PrivyID currently claims more than 30 million verified users, 1,800 enterprise customers, and processes over 40 million digital signatures annually, giving it a market-leading position in the country. Its platform benefits from direct access to Indonesia’s national identity data and facial biometrics, enhancing accuracy and compliance. With fresh capital, PrivyID plans to roll out additional consumer and enterprise products and accelerate overseas expansion, leveraging Indonesia’s rapidly growing digital economy. Management also aims to deepen its role in the country’s digital transformation initiatives while maintaining regulatory leadership.

Participated · Series A · Aug 2018

KoinWorks provides a comprehensive financial platform for underserved SMEs, including working capital loans, online bank accounts, cards, point-of-sale, early-wage access and HR management systems. The company has expanded its product set into an SME Neobank that it plans to scale using new funding. KoinWorks says its user base tripled to 1.5 million customers and it has a waitlist of 100,000 SMEs being onboarded to its new software. Monthly loan disbursements have tripled since 2019 to nearly $50 million, and revenue has quadrupled over the same period. Management says the company became cash-flow positive earlier this year and that its non-performing loan rate is under 2%. KoinWorks is headquartered in Jakarta, with holdings in Singapore and tech offices in Yogyakarta, India and Vietnam. KoinWorks is an Indonesia-based peer-to-peer lending platform founded in 2015 that says it was the first Indonesian P2P lender to be registered and is supervised by the Indonesian Financial Services Authority. Its core offering is a machine learning–based online marketplace that matches lenders and borrowers and aims to be a unified “super app” for financial needs. Product lines include KoinRobo (automatically diversified portfolios with fixed returns and social impact), KoinP2P (lending from as little as Rp100,000 with an advertised EAR of 18% p.a.), and KoinBisnis (SME financing up to Rp2 billion without collateral within one day). The company reports more than 300,000 users on its platform. Financially, KoinWorks recently completed fundraising activity, including a $20 million round from existing investors and a subsequent $10 million injection. The articles describe ongoing growth and expansion of product offerings rather than specific revenue metrics. KoinWorks is Indonesia’s largest peer-to-peer (P2P) lending platform registered and supervised by the Indonesia Financial Services Authority (OJK). Founded in 2016 by Benedicto Haryono and Willy Arifin, the platform connects borrowers and retail investor-funders through a single online marketplace. It offers products including business financing, invoice financing, KoinBisnis and KoinPintar, and leverages machine learning to underwrite loans and match funders to borrowers. KoinWorks reports more than 300,000 users, with over 60% of investor-funders being millennials and 70% saying it is their first investment product. The company plans to use new capital to expand its team and partnerships and to further develop systems and technology to increase financial inclusion across Indonesia. Its mission focuses on providing access to productive loans for SMEs historically underserved by traditional banks. KoinWorks operates a machine learning–driven peer-to-peer lending platform that connects investors and borrowers for business, education, health, and employee loans. The company is led by co-founder and chairman Willy Arifin. The platform reports approximately 50,000 lenders. KoinWorks intends to use new funding to invest in technology and improve user experiences. The business focuses on matching lenders and borrowers across multiple loan categories via its P2P marketplace. The article does not disclose additional financial metrics beyond the lender count and the announced funding.

Participated · Equity · Feb 2017

Printerous is a two-year-old Indonesian startup operating an online printing marketplace that links customers with existing print shops. It began with consumer-focused photo printing and expanded last year to cover business services such as banners, business cards and leaflets. Business services now account for around 70% of the company’s revenue. Printerous works with local printers and delivery services to fulfill orders within 24 hours and currently operates in Jakarta. The company plans to use the new funding to grow its Jakarta printing partners from about 50 to 100 and to acquire new customers, with expansion to other major Indonesian cities targeted for Q3 or Q4 and a broader vision to scale across Southeast Asia.

Led · Equity · May 2014

Navigat Group focuses on the distributed gas-to-power market in Southeast Asia, pursuing power projects typically sized 5–100MW. The company operates through two main divisions: Navigat Energy (GE Jenbacher equipment sales and service) and MAXPower (IPP, BOOT and rental projects). Navigat is the second-largest global distributor of GE Jenbacher equipment, having sold over 1,000MW of units under its distribution licenses in Indonesia, Singapore and Thailand, and has 335MW of installed capacity across Indonesia, Myanmar, Singapore and Thailand. Its top holding company is incorporated in Singapore and the company’s headquarters are in Jakarta. The firm aims to grow MAXPower’s installed operating capacity to 1,000MW by the end of 2015. Recent external funding is being deployed to support that capacity build-out.