# Top 50 B2B Startup Investors in Indonesia in May 2026

## Alpha JWC Ventures
- Type: VC Fund
- Location: Jakarta Pusat, Jakarta Raya, Indonesia
- Relevant deals: 5
- Stages: Seed, Series A, Series B
- Focus: E-Commerce, Information Technology, Financial Services

Alpha JWC Ventures is an Indonesia-focused value-adding venture capital firm with expertise in FinTech and the Consumer tech sector. Alpha JWC Ventures is an independent and institutional firm that believes in investing in a disciplined manner combined with an active portfolio management approach. The firm was founded in 2015 and is based inJakarta Pusat, Jakarta Raya, Indonesia.

## Peak XV Partners
- Type: VC Fund
- Location: Bengaluru, Karnataka, India
- Relevant deals: 3
- Stages: Series A, Series B, Seed
- Focus: Software, Financial Services, E-Commerce

We help the daring build legendary companies.

## Golden Gate Ventures
- Type: VC Fund
- Location: Singapore, Central Region, Singapore
- Relevant deals: 3
- Stages: Seed, Series A, Series B
- Focus: FinTech, E-Commerce, Financial Services

Golden Gate Ventures is a venture capital firm investing across Southeast Asia. Since 2011, the firm has launched four funds, managed US$250M AUM, and invested in 60+ companies in over 7 countries in Asia. The firm focuses on investing in technology companies driven by the rising consumer class in Southeast Asia.

## MDI Ventures
- Type: VC Fund
- Location: Jakarta, Jakarta Raya, Indonesia
- Relevant deals: 3
- Stages: Series B, Seed, Series A
- Focus: Software, E-Commerce, FinTech

MDI is a corporate venture capital initiative by Telkom Indonesia and is set as an independent entity with its own funding processes. MDI uniquely combines a VC model with service in providing companies with access to operational help after making a financial investment.MDI works closely with global accelerators and venture firms to bringproprietary technology from other mature markets into various businesses of Telkom Indonesia.

## Skystar Capital
- Type: VC Fund
- Location: Jakarta, Jakarta Raya, Indonesia
- Relevant deals: 2
- Stages: Seed, Series A, Series B
- Focus: E-Commerce, Financial Services, FinTech

We are Skystar Capital, an early-stage VC firm committed to supporting tech entrepreneurs to create a lasting and profound positive difference in Southeast Asia and Indonesia.

## Wavemaker Partners
- Type: VC Fund
- Location: Singapore, Central Region, Singapore
- Relevant deals: 2
- Stages: Seed, Series A
- Focus: Software, E-Commerce, Information Technology

Wavemaker Group is a cross-border venture capital firm founded in 2003 and one of the most active early-stage investors across multiple funds.

## DS/X Ventures
- Type: VC Fund
- Location: Singapore, Central Region, Singapore
- Relevant deals: 2
- Stages: Pre-Seed
- Focus: Information Technology, B2B, Internet

DS/X Ventures is an investment firm that uses data, expertise, and a huge array to find and aid startups who want to go global. Founded in 2022 and is based in Singapore.

## Openspace
- Type: VC Fund
- Location: Singapore, Central Region, Singapore
- Relevant deals: 2
- Stages: Series A, Series B, Series C
- Focus: E-Commerce, Financial Services, Information Technology

Openspace Ventures is a leading venture capital firm finding and backing Southeast Asian companies creating a transformative impact where tech meets life.

## Indonusa Dwitama
- Type: VC Fund
- Location: Jakarta, Jakarta Raya, Indonesia
- Relevant deals: 2
- Stages: Series A
- Focus: B2B, E-Commerce, Fashion

Indonusa Dwitama is a holding company that engages in organizing and developing a broad portfolio of investments, including the exploration and exploitation of mining, financial services, interactive multi-media and information technology and trading activities in Indonesia. Pemengang main stock and visionary leader of the group is Mr.Indonusa. Victor Fungkong.

## Lightspeed India Partners
- Type: VC Fund
- Location: New Delhi, Delhi, India
- Relevant deals: 2
- Stages: Series A, Seed, Series B
- Focus: Software, Internet, Information Technology

Lightspeed Venture Partners has invested in direct and cross-border. They invest across several stages and sectors, including technology-led businesses as well as non-technology opportunities in sectors such as advertising and media, business services, financial services, healthcare, education, and retail.

## Convergence Ventures
- Type: VC Fund
- Location: Jakarta, Jakarta Raya, Indonesia
- Relevant deals: 2
- Stages: Series A, Seed, Series B
- Focus: Financial Services, FinTech, Internet

Convergence Ventures is an early stage Indonesian VC firm focused on investing in the very best startups of Indonesia.

## Investible
- Type: VC Fund
- Location: Sydney, New South Wales, Australia
- Relevant deals: 2
- Stages: Seed, Series A, Pre-Seed
- Focus: Software, E-Commerce, Information Technology

Investible is an early-stage venture capital firm backing the visionaries advancing humanity through technology in Australia, New Zealand, Southeast Asia and globally.

## STRIVE
- Type: VC Fund
- Location: Tokyo, Tokyo, Japan
- Relevant deals: 2
- Stages: Seed, Series A
- Focus: Software, Internet, SaaS

STRIVE focuses on investing in early-stage (Seed to Series A) internet and mobile companies. It seeks out companies in Japan, Southeast Asia, and India with top-notch management teams and strong market potential. It is not tied to strategic investments for GREE Inc. and leverages its pan-Asia expertise for guiding its portfolio in an engaged,hands-on role.

## Indies Capital Partners
- Type: VC Fund
- Location: Singapore, Central Region, Singapore
- Relevant deals: 2
- Stages: Series B, Series C, Seed
- Focus: E-Commerce, Financial Services, FinTech

Indies Capital Partners is an asset manager for private credit and special situations. The firm formed a strategic alliance with Värde Partners, a global alternative investment firm, to co-invest in private credit opportunities in Indonesia.
It was founded in 2009 and headquartered in Singapore, Central Region.

## Intudo Ventures
- Type: VC Fund
- Location: Jakarta, Jakarta Raya, Indonesia
- Relevant deals: 2
- Stages: Seed, Series A, Series B
- Focus: FinTech, Financial Services, Marketplace

Intudo Ventures is an "Indonesia-only" venture capital firm with a concentrated portfolio approach capitalizing on the rapid growth of private consumption and the rising middle class in Indonesia.

## Alto Partners Multi-Family Office
- Type: VC Fund
- Location: Singapore, Central Region, Singapore
- Relevant deals: 2
- Stages: Series A, Seed, Series B
- Focus: FinTech, Financial Services, Software

Alto Partners is the first Multi-Family Office founded by and for Asia’s entrepreneurs.​​ Since our establishment in 2013, we have invested in dozens of Southeast Asia's leading founders. ​Many entrepreneurs we backed with our financial and strategic capital have become Asia's most celebrated success stories.​​As we achieve exitsalongside founders, we become the family office of choice for new entrepreneurial wealth, which is often re-invested into next generation start-ups. ​This entrepreneur-focused cycle of venture funding, exits and re-investment underpins the growth of our family office, which today includes the founders of Gojek, Bank Jago, Kopi Kenangan, ​Jobstreet, Northstar and others from Asia's venture ecosystem. ​​

## BRI Ventures
- Type: VC Fund
- Location: Jakarta, Jakarta Raya, Indonesia
- Relevant deals: 2
- Stages: Series B, Series A, Seed
- Focus: FinTech, Financial Services, B2B

BRI Ventures is the Corporate Venture Capital of Bank BRI. Through investments in innovative companies, we are the engine of growth for BRI Group.
We aim to be the leading regional venture capital in financial technology and set to achieve our goal with accelerating Indonesia's financial inclusion and digital economy society by empowering thestart-up ecosystem.Backed by Bank BRI’s network and experience in the financial sector, BRI Ventures aim to support the entrepreneurs in accelerating Indonesia’s economic growth.

## Quona Capital
- Type: VC Fund
- Location: Washington, District of Columbia, United States
- Relevant deals: 2
- Stages: Series A, Series B, Seed
- Focus: Financial Services, FinTech, Finance

Quona Capital invests in fintech innovators that are advancing inclusion in emerging markets. Through our investments, Quona aims to deliver outstanding financial returns while making a lasting and positive impact on the world.

## Heyokha Brothers
- Type: VC Fund
- Location: Hong Kong, Hong Kong Island, Hong Kong
- Relevant deals: 2
- Stages: Series A, Seed
- Focus: Finance, Lending, Consumer Lending

Heyokha Brothers is an investment management firm.

## Rebright Partners
- Type: VC Fund
- Location: Tokyo, Tokyo, Japan
- Relevant deals: 2
- Stages: Seed, Series A, Series B
- Focus: Software, SaaS, Health Care

Venture Capital Firm based in Singapore and Tokyo, focus on seed to early stage Internet & Mobile software Startups in Southeast Asia and India

## Accial Capital
- Type: VC Fund
- Location: Cambridge, Massachusetts, United States
- Relevant deals: 1
- Stages: Debt Financing, Seed, Series A
- Focus: Financial Services, FinTech, Finance

Accial Capital is an impact-focused, tech-enabled investor in small business and consumer loan portfolios in Latin America and South East Asia. Accial Capital combines data, technology, capital and credit expertise to contribute to a world of widespread credit access and financial health.

## Orvel Ventures
- Type: VC Fund
- Relevant deals: 1
- Stages: Seed
- Focus: Hospital, Health Care, Financial Services

Orvel is a network-driven venture capital firm, investing in early stage technology companies in South-East Asia._____
OUR COMPANIES:


## James Watt
- Type: Angel
- Location: Aberdeen, Aberdeen City, United Kingdom
- Relevant deals: 1
- Stages: Pre-Seed, Seed
- Focus: Software, Information Technology, Apps

James Watt is an Aberdeenshire entrepreneur who co-founded one of the world’s most popular craft breweries, BrewDog.Before embarking on a hop-fuelled journey that would change the face of the beer industry forever, James completed an honours degree in Law and Economics. It didn’t take long for him to discover that the corporate suit-and-tie worldof litigation and libel was not for him, so he packed in his career in a law after a few weeks, opting to return to the bitter cold shores of Northeast Scotland to join his father as a fully-qualified Deepsea Captain.At 24-years-old, James took a new path. Inspired by the bold and experimental beers being crafted by a new movement of brewers on the West Coast of the U.S, James joined forces with friend Martin Dickie, and together the pair started brewing their own beers in Martin’s mum’s garage. In a world dominated by cask bitters and mass-produced lagers, their penchant for heavily-hopped and relentlessly bitter beers made them a unique duo, especially in the town of Fraserburgh. Undeterred by opinion, they pursued their passion through meticulous study, experimentation and boundary-pushing ideas, hellbent on showcasing that beer could be more than just fizzy yellow liquid made by global dominating brewers.2007 was a seminal year for James. BrewDog became a reality, setting up shop on a derelict industrial estate in Fraserburgh between a needle exchange and ‘The Godfather of Carpets’.
While Martin took the reins on brewing and production, James focused on growing the business, handling accounts and spearheading the brand’s new breed of irreverent marketing that grabbed headlines for years to come. Not only did the pair produce some of the most exciting beers the UK has ever seen, but James also led the charge on Equity for Punks, a ground-breaking new crowdfunding initiative that would be mirrored for years to come by other brands across the globe.
In 2014, James was awarded Great British Entrepreneur of the Year. He is also one of only a handful of people in Europe holding the title of Master Cicerone5, a title reserved for only the most diligent beer experts. In 2016, he was awarded the MBE in the 2016 Queen’s Birthday Honours list. By this time, BrewDog was now 9 years old and boasted a 360-person strong workforce, 26 bars across the UK and Europe, as well as over 14,000 shareholders.
Latter achievements include a number of publishing deals. James released Business for Punks: Break All The Rules – The BrewDog Way and co-wrote BrewDog: Craft Beer for the People. These books both showed the impact that BrewDog had on the beer, from both a business and marketing perspective, as well highlighting the importance of exceptional quality products in a world heavily populated by mainstream beer. But times were changing, and James was at the front of the pack, leading the way and carving a new path for the beer world.By 2019, James’ passion for sustainability had become integral to the brand. BrewDog was employing over 2,000 people at this time, with 100 bars located around the globe and over 130,000 Equity Punk shareholders. Amazing beer was still at the heart of everything James was doing, but building sustainability into this world was now not a question of if, but when.So, in 2020, BrewDog announced that they were the world’s first carbon negative brewery – a huge step that would see the industry take note and follow suit with commitments to change the way they do business. James worked closely with Small World Consulting’s Mike Berners-Lee to calculate the businesses carbon emissions and identify ways to reduce these through authentic reforestation programmes, which included a 9,308 acre plot of land in the Scottish Highlands and set forth to embark on one of the largest reforestation projects the UK has ever seen.
In just 15 years, the beer world has transformed. Beyond the liquid in your glass, the breweries at the forefront of the movement are more than just suppliers of a product. They are social commentators, integral to local communities and beacons of quality and change. James has been paramount to these developments, showing that beer can be a force for good.

## responsAbility
- Type: VC Fund
- Location: Zürich, Zurich, Switzerland
- Relevant deals: 1
- Stages: Debt Financing, Series C
- Focus: Financial Services, Finance, FinTech

Impact investment products - fight climate change, drive sustainable food systems & create a more inclusive world without compromising returns.

## SMDV
- Type: VC Fund
- Location: Jakarta, Jakarta Raya, Indonesia
- Relevant deals: 1
- Stages: Series A, Seed, Series B
- Focus: E-Commerce, Information Technology, Financial Services

SMDV sinar mas digital ventures

## Vulpes Investment Management Pte Ltd
- Type: VC Fund
- Location: Singapore, Central Region, Singapore
- Relevant deals: 1
- Stages: Seed, Series A, Convertible Note
- Focus: Health Care, Internet, Biotechnology

At Vulpes, we think differently. We create long-term sustainable capital appreciation by welcoming co-investment and aligning incentives. We choose to be patient and invest in ways that are profitable, yet with benefits that are not solely financial.

## Patrick Walujo
- Type: Angel
- Location: Metropolitan, Michigan, United States
- Relevant deals: 1
- Stages: Seed, Series A, Series B
- Focus: Education, Financial Services, Farming

Patrick Walujo - Co-Founder & Managing Partner @ Northstar Group

## Brightness Capital
- Type: VC Fund
- Relevant deals: 1
- Stages: Seed
- Focus: B2B, Big Data, Logistics

Brightness Capital is an investment firm.

## Astor Investment Management
- Type: VC Fund
- Location: Chicago, Illinois, United States
- Relevant deals: 1
- Stages: Seed
- Focus: B2B, SaaS, Big Data

Learn about the Astor philosophy and why we've built it on the belief on diligent analysis that can provide value for financial market allocations.

## Centauri Fund
- Type: VC Fund
- Location: Singapore, Central Region, Singapore
- Relevant deals: 1
- Stages: Seed, Series B, Series A
- Focus: Software, E-Commerce, Information Technology

Centauri Fund, a new growth-focussed venture capital fund jointly established by KB Investment, a business unit under Korea’s financial institution KB Financial Group and MDI Ventures, the corporate venture capital initiative under Indonesia’s state-owned telecommunication company TelkomGroup with headquarters in Jakarta and Seoul. Centauri Fundaims to invest between US$1 million and US$5 million in rounds that range from pre-series A to series B stage in tech startups throughout ASEAN, with an emphasis on its largest market, Indonesia.

## Willy Arifin
- Type: Angel
- Location: Jakarta, Jakarta Raya, Indonesia
- Relevant deals: 1
- Stages: Seed, Pre-Seed
- Focus: Financial Services, B2B, Apps

Will Arifin is a co-founder and chairman of KoinWorks. He has a dream to make financial inclusion soon to be happened in Indonesia. Through KoinWorks, he create products that makes everyone has the same chance to get financial access.

## Moses Lo
- Type: Angel
- Location: San Francisco, California, United States
- Relevant deals: 1
- Stages: Pre-Seed, Series B, Series C
- Focus: Financial Services, Information Technology, Banking

Founder and CEO at Xendit

## Wright Partners
- Type: VC Fund
- Location: Singapore, Central Region, Singapore
- Relevant deals: 1
- Stages: Seed
- Focus: B2B, AgTech, EdTech

Wright Partners is a venture builder

## InnoVen Capital
- Type: VC Fund
- Location: Mumbai, Maharashtra, India
- Relevant deals: 1
- Stages: Debt Financing, Series A
- Focus: E-Commerce, Financial Services, Internet

InnoVen Capital is Asia's leading venture lending firm with offices in Mumbai, Singapore and Beijing. Started in India in 2008, the platform was re-branded InnoVen Capital following a buyout of the business led by Temasek Holdings and UOB Group in 2015. InnoVen Capital currently has investor commitments of US$200 million.In India, InnoVenCapital is positioned as the first and largest venture debt provider to venture capital backed start-ups in India across stages of growth and sectors. The Company has a credit rating of ‘IND AA-’ for its term borrowing and ‘IND A1+’ for its commercial paper issuances.InnoVen provides debt financing to high growth and innovative tech startups, and has since supported and provided over 190 loans to more than 150 start-ups across India and Southeast Asia. The platform offers multiple debt capital solutions, including venture debt, acquisition finance, growth loans, and syndication.

## East Ventures
- Type: VC Fund
- Location: Tokyo, Tokyo, Japan
- Relevant deals: 1
- Stages: Seed, Series A
- Focus: Software, Information Technology, E-Commerce

East Ventures is an early stage venture capital (VC) focused on Southeast Asia, Indonesia & Japan. Success cases include Tokopedia, Traveloka, and Mercari.

## Jakob Angele
- Type: Angel
- Location: Berlin, Berlin, Germany
- Relevant deals: 1
- Stages: Seed, Pre-Seed
- Focus: Rental Property, Real Estate, Property Management

Jakob oversees is the CEO at Foodpanda - Romania and Bulgaria.

## Alter Global
- Type: VC Fund
- Location: San Francisco, California, United States
- Relevant deals: 1
- Stages: Seed, Pre-Seed, Series A
- Focus: E-Commerce, Marketplace, B2B

Alter Global is a venture capital firm investing in early-stage startups within emerging markets such as Southeast Asia, Latin America, the Middle East and Africa. Since 2015, we’ve partnered with more than 40 exceptional ventures across 18 countries. We believe in the theory of individual change, supporting high-character founders who are buildingnot only their companies, but their communities and countries as well. We match our founders with talent, expertise, and investments from around the world.We're on a mission to create an unprecedented global network of the world's best tech founders - #ventureboldly and join us.

## Vaibhav Gupta
- Type: Angel
- Location: Bengaluru, Karnataka, India
- Relevant deals: 1
- Stages: Seed, Series B
- Focus: B2B, Marketplace, Apps

Vaibhav Gupta - Co-Founder @ Udaan

## Spiral Ventures
- Type: VC Fund
- Location: Singapore, Central Region, Singapore
- Relevant deals: 1
- Stages: Series A, Seed, Series B
- Focus: E-Commerce, Internet, Information Technology

Our former entity “IMJ Investment Partners” was established in 2012 by IMJ Corporation (“IMJ”), a major digital marketing company, as an independent venture capital subsidiary in Japan. After IMJ was acquired by Culture Convenience Club (“CCC”) in 2013, we continued our investment activities independently, and eventually relocated our office toSingapore to change our strategy and start a venture capital fund for the Southeast Asia market. In 2015, we established the Japan office and started a venture capital fund for the Japanese market.In tandem with the expansion of our business, we left the CCC Group, changed our name to “Spiral Ventures” in 2017, and made a fresh start as an independent venture capital firm.taken from https://spiral-ventures.com/en/group-info/

## Prasetia Dwidharma
- Type: VC Fund
- Location: Jakarta Pusat, Jakarta Raya, Indonesia
- Relevant deals: 1
- Stages: Seed, Series A, Pre-Seed
- Focus: Software, Information Technology, E-Commerce

PT Prasetia Dwidharma was founded in 2008 as a telecommunication infrastructure contractor. The company has started to invest in technology startups since 2013.

## 1982 Ventures
- Type: VC Fund
- Location: Singapore, Central Region, Singapore
- Relevant deals: 1
- Stages: Seed, Pre-Seed, Series A
- Focus: Financial Services, FinTech, Payments

Early stage venture capital investor focused on fintech in Southeast Asia

## Indogen Capital
- Type: VC Fund
- Location: Jakarta, Jakarta Raya, Indonesia
- Relevant deals: 1
- Stages: Series A, Seed, Series B
- Focus: Information Technology, Coworking, Supply Chain Management

Venture Capital Indonesia for sector agnostic investor in southeast asia. We are based in Jakarta with deep operating experience in Indonesia.

## Pavilion Capital
- Type: VC Fund
- Location: New York, New York, United States
- Relevant deals: 1
- Stages: Series B, Series A, Series C
- Focus: Biotechnology, Health Care, Information Technology

Provides growth equity to market leading companies in the United States and China

## ATM Capital
- Type: VC Fund
- Location: Beijing, Beijing, China
- Relevant deals: 1
- Stages: Seed, Series C, Series A
- Focus: Publishing, Advertising, Freight Service

ATM Capital is an early-to-growth-stage venture fund. The company focuses on three main sectors with growth potential: logistics and e-commerce supporting infrastructure, consumption, fintech, and insurtech. They aim to invest in startups in the region and provide them with growth capital, human resources, and strategic resources.

## Vertex Ventures
- Type: VC Fund
- Location: Palo Alto, California, United States
- Relevant deals: 1
- Stages: Series A, Series B, Series C
- Focus: Software, Information Technology, E-Commerce

Vertex US is an early stage VC that backs fearless founders building a smarter digital economy through B2B software.

## Aakrit Vaish
- Type: Angel
- Location: Mumbai, Maharashtra, India
- Relevant deals: 1
- Stages: Seed, Angel, Series A
- Focus: Internet, Health Care, E-Commerce

Aakrit Vaish is the co-founder and CEO of Haptik, who pioneered the wave of conversational AI starting back in 2013. Today, Haptik is one of the world's largest companies in the space with offices in New York, Los Angeles, Mumbai, Singapore, and clients that include names such as KFC, Starhub, Zurich Insurance, Ola Cabs, Hotstar, Oyo Rooms,Kotak Life. In April 2019, Reliance Industries acquired the majority shareholding in the company in a $100 million transaction, making Haptik one of the highest valued AI companies globally. Outside of Haptik, Aakrit is an investor in startups in the areas of consumer/consumer tech and B2B SaaS. Notable investments include Unacademy (valued at >$200 million), Pepper Content, Park+, Flat White Capital, Third Wave Coffee, Ayoconnect, Boxhub, Dataweave, Haikujam (Ligthtbox backed), Flatchat (sold to Commonfloor in 2014), Tookitaki, Dil Mil, Ayopop, iON Energy, Talent Litmus, among others.Prior to Haptik,Aakrit was an early member of the team at Flurry, one of the world's largest mobile analytics and advertising platforms, acquired by Yahoo in 2014. Aakrit received his BS in Industrial Engineering from the University of Illinois, Urbana Champaign and was named as a contender to the Forbes India 30 under 30 list in 2015.

## Accion Venture Lab
- Type: VC Fund
- Location: Washington, District of Columbia, United States
- Relevant deals: 1
- Stages: Seed, Series A
- Focus: Financial Services, FinTech, Finance

Accion Venture Lab is an investment initiative that provides startups with seed capital and support.

## Michael Sampoerna
- Type: Angel
- Relevant deals: 1
- Stages: Seed
- Focus: AgTech, Credit, FinTech

Michael Sampoerna

## Khoo Investment
- Type: VC Fund
- Relevant deals: 1
- Stages: Seed
- Focus: B2B, Big Data, Logistics

Khoo Investment is an investment firm.

## 10K Ventures
- Type: VC Fund
- Location: Berlin, Berlin, Germany
- Relevant deals: 1
- Stages: Seed, Pre-Seed
- Focus: E-Commerce, FinTech, Financial Services

10K Ventures is the investment arm of Hansol Joo & Kim Diocampo. Investing in early stage startups and funds globally

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