# Top 50 Retail Startup Investors in Indonesia in May 2026

## East Ventures
- Type: VC Fund
- Location: Tokyo, Tokyo, Japan
- Relevant deals: 11
- 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.

## SMDV
- Type: VC Fund
- Location: Jakarta, Jakarta Raya, Indonesia
- Relevant deals: 4
- Stages: Series A, Seed, Series B
- Focus: E-Commerce, Information Technology, Financial Services

SMDV sinar mas digital ventures

## Vertex Ventures Southeast Asia & India
- Type: VC Fund
- Location: Singapore, Central Region, Singapore
- Relevant deals: 3
- Stages: Series A, Series B, Seed
- Focus: E-Commerce, FinTech, SaaS

Vertex Ventures Southeast Asia and India invests in high-growth start-ups seeking their first round of institutional venture capital funding in Southeast Asia and India, with a primary focus on Singapore, India, Indonesia, Thailand and other emerging hubs of innovation across the region. It has a long and strong track record of investing in early-stage startups and building champions like Grab, Patsnap, 17Live, Nium, FirstCry, Licious, AsianParent, Validus, Warung Pintar, and others. 

## Triputra Group
- Type: VC Fund
- Location: Jakarta, Jakarta Raya, Indonesia
- Relevant deals: 3
- Stages: Seed, Series A, Pre-Seed
- Focus: Supply Chain Management, Logistics, Information Technology

Founded by T.P. Rachmat in 1998, Triputra Group consists of an investment company with actively managed interests in operating companies. The Group has since expanded its expertise to a wide variety of commodities and participated in various diversified businesses, such as agribusiness, manufacturing, mining, and trading & services. To date, itcomprises of 14 subsidiary holding companies and a total of 60,000 employees - making it one of Indonesia's largest Group of companies.

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

AC Ventures is an early-stage technology venture fund that focuses on investing in Indonesia’s digital disruptors. Their mission is to partner and support their entrepreneurs with more than capital, combining their operating experience, industry knowledge, and deep local network to bring value. The company was founded in 2020 and is based inJakarta, Indonesia.

## LINE Ventures
- Type: VC Fund
- Location: Shinjuku, Yamanashi, Japan
- Relevant deals: 2
- Stages: Series A, Series B
- Focus: Software, E-Commerce, FinTech

LINE Ventures is a venture capital investment firm that invests in games, internet advertising, and flexible investment fields.

## Saison Capital
- Type: VC Fund
- Location: Singapore, Central Region, Singapore
- Relevant deals: 2
- Stages: Seed, Pre-Seed, Series A
- Focus: Financial Services, FinTech, Information Technology

They invest in Seed to Series A companies across South East Asia and India. Although they have a sector agnostic fund mandate, they particularly like to work with founders that are building ecosystems with the potential to distribute financial services to the unbanked.

## Rebel Fund
- Type: VC Fund
- Location: San Francisco, California, United States
- Relevant deals: 2
- Stages: Seed, Series A
- Focus: Software, FinTech, Health Care

Rebel Fund is powered by an elite team of top Y Combinator alumni partners to support the world's most promising technology startup founders

## 640 Oxford Ventures
- Type: VC Fund
- Relevant deals: 2
- Stages: Series A, Seed, Series B
- Focus: E-Commerce, Software, DIY

A boutique venture capital firm.

## Prasetia Dwidharma
- Type: VC Fund
- Location: Jakarta Pusat, Jakarta Raya, Indonesia
- Relevant deals: 2
- 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.

## 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.

## Javas Venture LLC
- Type: VC Fund
- Location: Delaware City, Delaware, United States
- Relevant deals: 2
- Stages: Pre-Seed, Convertible Note, Seed
- Focus: Information Technology, Software, Enterprise Resource Planning (ERP)

Super Angel Syndication aims to support early stage startup with strategic value and smart capital.

## Pavilion Capital
- Type: VC Fund
- Location: New York, New York, United States
- Relevant deals: 2
- 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

## Vertex Ventures
- Type: VC Fund
- Location: Palo Alto, California, United States
- Relevant deals: 2
- 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.

## Soma Capital
- Type: VC Fund
- Location: San Francisco, California, United States
- Relevant deals: 2
- Stages: Seed, Pre-Seed, Series A
- Focus: Software, FinTech, Financial Services

Soma Capital is venture capital fund that focuses on investing in software to automate the world across all sectors and geographies.

## Insignia Ventures Partners
- Type: VC Fund
- Location: Singapore, Central Region, Singapore
- Relevant deals: 2
- Stages: Seed, Series A, Series B
- Focus: Financial Services, FinTech, Information Technology

Insignia Ventures Partners is a venture capital firm that specializes in startup investment. Insignia Ventures Partners is an investment firm managed by a former Sequoia Asia partner, Yinglan Tan.

## BEENEXT
- Type: VC Fund
- Location: Singapore, Central Region, Singapore
- Relevant deals: 2
- Stages: Seed, Series A, Series B
- Focus: Software, E-Commerce, FinTech

BEENEXT is a Venture Capital fund managed by serial entrepreneurs that focuses on assisting founders with its operational experience, network, trust, unique perspectives, and the capital. The team invests in early-stage tech start-ups that are focused on building the new digital platforms driven by the data network. BEENEXT aims to establish aplatform of founders, by the founders and for the founders across the globe, primarily in South East Asia, India and Japan. Since its establishment in 2015, the team has
invested in over 180 companies globally.

## Mitsubishi Corporation
- Type: VC Fund
- Location: Tokyo, Tokyo, Japan
- Relevant deals: 1
- Stages: Series A, Corporate Round
- Focus: Software, Internet, Information Technology

Mitsubishi Corporation (MC) is a global integrated business enterprise that develops and operates businesses across virtually every industry including industrial finance, energy, metals, machinery, chemicals, living essentials, and environmental business. MC's current activities are expanding far beyond its traditional trading operations asits diverse business ranges from natural resources development to investment in retail business, infrastructure, financial products and manufacturing of industrial goods.

## Kapan Lagi Networks
- Type: VC Fund
- Location: Kuningan, Jakarta Raya, Indonesia
- Relevant deals: 1
- Stages: Series A
- Focus: Retail, Fashion, Handmade

Trusted Fact-checking News Publisher in Indonesia

## Alfamart
- Type: VC Fund
- Location: Banten, Jawa Barat, Indonesia
- Relevant deals: 1
- Stages: Series A
- Focus: Retail, Banking, FinTech

Alfamart adalah jaringan minimarket terbaik dengan member terbanyak di Indonesia nikmati beragam promo menarik JSM alfamart. alfamart belanja puas harga pas

## OSK Ventures International
- Type: VC Fund
- Location: Kuala Lumpur, Kuala Lumpur, Malaysia
- Relevant deals: 1
- Stages: Series A, Series B, Seed
- Focus: FinTech, Financial Services, Software

OSKVI was established in year 2000 and is the venture capital and private equity affiliate of OSK Holdings Berhad. OSKVI was listed on the then Malaysia Exchange of Securities Dealing and Automated Quotation Market (“MESDAQ Market”) (now known as the ACE Market) of Bursa Malaysia Securities Berhad (“Bursa Securities”) on
8 September 2004.TheOSKVI Group has an established presence in the private equity and venture capital industry in the region. Since inception, they have successfully invested, nurtured and divested several companies from various industries.

## Kok Long Chan
- Type: Angel
- Location: Selangor, Selangor, Malaysia
- Relevant deals: 1
- Stages: Seed
- Focus: Beauty, Retail, E-Commerce

Mr. Chan Kok Long, aged 47, is one of the 3 key founders of iPay88 Sdn Bhd and currently is the Executive Director of iPay88 Sdn. Bhd and Mobile88.com Sdn Bhd. Both companies are the leading service provider in its own field in the South East Region (SEA). He is currently joint managing iPay88 Sdn Bhd which is the parent company for iPay88 SouthEast Asia. Currently iPay88 Sdn Bhd have offices in Philippines, Indonesia, Singapore and soon in Thailand.He was a British Petroleum scholar who graduated from Universiti Kebangsaan Malaysia (“UKM”) with a Bachelor of Science (2nd class upper honours) in 1990. He is a graduate member of the Chartered Institute of Marketing (CIM, United Kingdom) and holds a Certified Diploma in Accounting and Finance from the Association of Chartered Certified Accountants, United Kingdom.

## Irongrey
- Type: VC Fund
- Relevant deals: 1
- Stages: Seed, Series B, Series A
- Focus: Energy, E-Commerce, Information Technology

Irongrey

## Pegasus Tech Ventures
- Type: VC Fund
- Location: San Jose, California, United States
- Relevant deals: 1
- Stages: Seed, Series A
- Focus: Software, Artificial Intelligence, E-Commerce

Pegasus Tech Ventures is a global venture capital firm based in Silicon Valley, offering intellectual and financial capital to exceptional emerging technology companies around the world.

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

January Capital believes that rapid digitalization will continue to occur across all industries over the next decade. This fundamental shift will enable one-of-a-kind possibilities for category-defining enterprises to emerge. They prioritise collaborating with founders who are developing technologies that allow such transformation. They invest fromthe beginning of a company's life cycle, but they may also provide ongoing assistance. They are looking for firms that were developed in or for the Asia-Pacific area. Analysts anticipate that certain themes will drive economic growth in this region over the next several decades.

## JAM Fund
- Type: VC Fund
- Location: Las Vegas, Nevada, United States
- Relevant deals: 1
- Stages: Seed, Series A, Pre-Seed
- Focus: E-Commerce, FinTech, Logistics

JAM Fund operates as a venture capital firm investing in visionary founders disrupting large spaces. It is Tinder Founder Justin Mateen's venture capital firm.

## EV Growth
- Type: VC Fund
- Location: Singapore, Central Region, Singapore
- Relevant deals: 1
- Stages: Series B, Series C, Series A
- Focus: FinTech, Financial Services, Internet

EV Growth is a growth fund that specializes in providing growth capital to startups and businesses. EV Growth is a joint venture between East Ventures, SMDV, and YJ Capital that is focused on providing growth capital to startups in Indonesia and the rest of Southeast Asia with an agnostic industry focus. EV Growth has one of the largest networks ofcompanies and partners in the region and has invested in more than 16 portfolio companies since its first close in April 2018.EV Growth aims to bridge the gap in VC growth funding with the ultimate goal of creating a well-diversified portfolio of Southeast Asia early growth tech stage leaders. Leveraging Sinar Mas' deep business knowledge and combined with East Ventures' reputation as one of the leading VCs with the largest seed and Series A portfolios in the region as well as YJ Capital's long experience in the Internet industry, EV Growth has unrivaled access and insight into upcoming trends and opportunities in the industry

## TNB AURA
- Type: VC Fund
- Location: Singapore, Central Region, Singapore
- Relevant deals: 1
- Stages: Series A, Seed, Convertible Note
- Focus: Information Technology, Retail, E-Commerce

As a thesis-led, high-conviction venture capital firm, we use data-driven methodologies to identify and invest in select companies that are primed for the future and ready to change the very face of their categories.

## Agaeti Venture Capital
- Type: VC Fund
- Location: Jakarta, Jakarta Raya, Indonesia
- Relevant deals: 1
- Stages: Series A, Seed
- Focus: Information Technology, Food and Beverage, Software

Agaeti Venture Capital is an early stage venture capital firm

## Nate Matherson
- Type: Angel
- Location: Hoboken, New Jersey, United States
- Relevant deals: 1
- Stages: Seed, Series A
- Focus: FinTech, Financial Services, Software

Nate Matherson is the Co-founder/CEO of ContainIQ. ContainIQ is a software platform to monitor, optimize, and maintain kubernetes clusters.

## Blue Bird Group
- Type: VC Fund
- Location: Jakarta, Jakarta Raya, Indonesia
- Relevant deals: 1
- Stages: Seed
- Focus: Retail, E-Commerce, Delivery Service

Bluebird Group merupakan perusahaan transportasi yang menyediakan taksi, transportasi online, travel, hingga bus pariwisata dengan berbagai tipe sesuai kebutuhan Anda.

## Sovereign’s Capital
- Type: VC Fund
- Location: Raleigh, North Carolina, United States
- Relevant deals: 1
- Stages: Seed, Series A
- Focus: Software, FinTech, E-Commerce

We provide capital and strategic partnership to values-driven, market-leading companies with potential for outsized returns for all stakeholders. We invest in two market segments: profitable, lower middle market companies (with $10 million to $100 million in revenue, and $2.5 million to $10 million in owner earnings) and promising, early-stagetechnology companies (with $500,000 to $5 million in annual recurring revenue). We are distinct in our capacity to match values-motivated entrepreneurs with values-aligned investors, our ability to hold investments long-term, our willingness to customize solutions to owner needs, and our ability to drive value through disciplined strategic, operational, and financial partnership.We have investment team members based in Silicon Valley, CA; Atlanta, GA; Chattanooga, TN; Raleigh, NC; and Jakarta, Indonesia.

## Aavishkaar Venture Capital
- Type: VC Fund
- Location: Mumbai, Maharashtra, India
- Relevant deals: 1
- Stages: Series A, Series B
- Focus: Financial Services, Manufacturing, Finance

With Impact Investing at its core, Aavishkaar Capital caters venture capital requirements to scale businesses in the new markets.

## Taurus Ventures
- Type: VC Fund
- Location: San Francisco, California, United States
- Relevant deals: 1
- Stages: Seed, Pre-Seed, Series A
- Focus: Software, Information Technology, Financial Services

Taurus Ventures, a venture capital fund investing in the USA and Southeast Asia

## Intrinity Capital
- Type: VC Fund
- Relevant deals: 1
- Stages: Series A
- Focus: Retail, Grocery, Food and Beverage

Intrinity Capital is an investment firm.

## Global Founders Capital
- Type: VC Fund
- Location: Berlin, Berlin, Germany
- Relevant deals: 1
- Stages: Seed, Series A, Pre-Seed
- Focus: Financial Services, Software, FinTech

Over the past two decades, GFC have backed over five hundred entrepreneurs worldwide, e.g. Facebook, LinkedIn, Slack, and Away Travel.

## Canaan Valley Capital
- Type: VC Fund
- Location: Old Greenwich, Connecticut, United States
- Relevant deals: 1
- Stages: Seed, Series B, Series A
- Focus: E-Commerce, Internet, SaaS

Canaan Valley is a venture and growth equity firm that focuses mostly on providing capital to Asia (non-China) cutting edge technology and media companies. The firm partners with early-stage experienced entrepreneurs and thought-leading management teams to accelerate growth and maximize shareholder returns from the venture stage through IPO. Byemploying strong multi-sector experience, bottoms-up research, superior market technology vision, financial strategy, and an extensive network of superior contacts, Canaan Valley has enhanced value creation and financial performance for many of the region's most promising companies. Highlight Growth Equity investments: VerSe Innovation, Market Kurly, Zomato, and Crushmore. Highlight Venture/Early Stage: LocoNav, Jobhop, Tonik, Cleanorigin.com, Migo, Panagara, and Maria Health.

## Qualgro VC
- Type: VC Fund
- Location: Singapore, Central Region, Singapore
- Relevant deals: 1
- Stages: Series A, Series B, Seed
- Focus: Software, SaaS, Artificial Intelligence

Qualgro is a venture capital (VC) fund based in Singapore that provides funding to tech startups across Southeast Asia, in areas like Data, Software, and AI.

## Henry Hendrawan
- Type: Angel
- Location: Jakarta, Jakarta Raya, Indonesia
- Relevant deals: 1
- Stages: Seed
- Focus: B2C, EdTech, Retail

Henry Hendrawan,Executive Board Member - Traveloka.

## Jerry Yang
- Type: Angel
- Location: Tokyo, Tokyo, Japan
- Relevant deals: 1
- Stages: Series A, Seed, Series B
- Focus: Software, Artificial Intelligence, Machine Learning

Jerry Yang is an Investor and Advisory Board Member of Sarcura. Jerry Yang attended the National Taiwan University and HEC Paris.

## Vynn Capital
- Type: VC Fund
- Location: Kuala Lumpur, Kuala Lumpur, Malaysia
- Relevant deals: 1
- Stages: Seed, Series A, Series B
- Focus: Financial Services, E-Commerce, Marketplace

Vynn invests in entrepreneurs with strong operational involvement and capability to maintain a well-cultured team. Key industries for us are Travel, Property, Food & FMCG and Female Economics. We also focus on industry enablers such as logistics fulfilment and fintech in enhancing industry efficiencies.

## Nordstar
- Type: VC Fund
- Location: London, England, United Kingdom
- Relevant deals: 1
- Stages: Seed, Series A, Series B
- Focus: E-Commerce, Financial Services, FinTech

We help our partners accelerate their journeys to shape the future.

## Tekton Ventures
- Type: VC Fund
- Location: San Francisco, California, United States
- Relevant deals: 1
- Stages: Seed, Series A, Series B
- Focus: E-Commerce, FinTech, Financial Services

TEKTON VENTURES is an international seed investment firm that partners at inception with forward looking company builders in leading technology hubs worldwide. The firm’s principals have over three decades of experience as early stage investors. Leveraging an extensive global network of entrepreneurs and investors, Tekton makes early stageinvestments in category defining companies in several strategic geographies around the world.Passionate entrepreneurs exist in many parts of the world. Tekton Ventures focuses its investments in two different places: Silicon Valley and selected technology centers ( London and Israel); and the fast growing mobile/digitally connected markets in Asia (China, Korea and India).Our approach to global investing rests on partnerships with local venture ecosystems: we have built long standing relationships with some of the best local seed and venture investors in our geographies of focus.We see our unique global perspective as important to build transformational companies and make that knowledge available across our entire community of entrepreneurs.

## Next Billion Ventures
- Type: VC Fund
- Location: Washington, District of Columbia, United States
- Relevant deals: 1
- Stages: Seed, Series A, Pre-Seed
- Focus: Financial Services, FinTech, E-Commerce

A venture capital partnership for emerging markets.

## Forge Ventures
- Type: VC Fund
- Location: Singapore, Central Region, Singapore
- Relevant deals: 1
- Stages: Seed, Pre-Seed
- Focus: Artificial Intelligence, Enterprise Software, Education

Forge Ventures is an institutional seed VC firm looking to partner with ambitious founders to build the future of Southeast Asia.

## Alto Partners Multi-Family Office
- Type: VC Fund
- Location: Singapore, Central Region, Singapore
- Relevant deals: 1
- 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. ​​

## Susquehanna International Group (SIG)
- Type: VC Fund
- Location: Bala Cynwyd, Pennsylvania, United States
- Relevant deals: 1
- Stages: Series A, Series B
- Focus: Software, Financial Services, Cryptocurrency

Discover Susquehanna, a global quantitative trading firm built on a rigorous, analytical foundation in financial markets.

## Kopi Kenangan
- Type: VC Fund
- Location: Jakarta, Jakarta Raya, Indonesia
- Relevant deals: 1
- Stages: Pre-Seed, Seed, Series A
- Focus: Grocery, E-Commerce, Consumer Goods

Kopi Kenangan is one of the fastest growing grab-and-go coffee chain in Indonesia.

## Gunung Sewu Group
- Type: VC Fund
- Location: Jakarta, Jakarta Raya, Indonesia
- Relevant deals: 1
- Stages: Series A, Seed, Series B
- Focus: Internet, Information Technology, E-Commerce

Over the years Gunung Sewu Group has thrived through visionary leadership recognizing unique growth opportunities, forecasting the evolution of new markets and consistently investing in and strengthening our core businesses.

## Golden Gate Ventures
- Type: VC Fund
- Location: Singapore, Central Region, Singapore
- Relevant deals: 1
- 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.

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