Participated · Series A · Dec 2022

Plugo provides end-to-end e-commerce support for D2C brands, covering website creation, payment setup, marketing, shipping, warehousing and logistics. The platform enables merchants to focus on products while Plugo manages operations and partners with logistics firms like JNE Express, SiCepat and J&T and payment provider Nicepay Indonesia. Founded two months ago with five founding members, Plugo is headquartered in Singapore and has offices in Indonesia and South Korea. Approximately 200 D2C brands are using its beta service in Indonesia, and the company employs about 30 people. Plugo plans to officially launch in Indonesia in Q1 next year, focus on the Indonesian market for the next 12 months, then expand to Malaysia, Vietnam, Thailand and the Philippines. Management said it will use the Series A proceeds to beef up R&D and hire more engineers.

Participated · Series A · Apr 2021

CoLearn began as a chain of physical tutoring centres in 2018 and pivoted to a fully online app after launching in August 2020. The app has been downloaded more than 3.5 million times and has about one million active users, primarily grades 7–12. CoLearn hosts over 250,000 pre-recorded videos recorded by more than 400 tutors and its users ask roughly 5 million questions through the app each month. The pre-recorded videos are used to convert students and parents into paid live online classes, which the company says will be its main priority going forward. CoLearn runs teacher training programs and expects to train more than 200 teachers over the next two years, focusing on STEM subjects. The team aims to improve Indonesia’s PISA rankings to the top 50% within five years and may eventually expand to other countries after concentrating on Indonesia for the next couple of years.

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.