The Indonesian Venture Capital and Startup Association (Amvesindo) is aiming to secure Rp 20 trillion ($1.27 billion) in venture capital funding in 2024. As of November 2023, venture capital disbursements in Indonesia reached Rp 17.39 trillion, with Rp 16.78 trillion allocated to conventional businesses and Rp 610 billion set aside for Sharia-compliant disbursements. Despite a slight year-on-year decrease in venture capital disbursements in 2023, Amvesindo Chairman Eddi Danusaputro remains optimistic about reaching the target for 2024, citing anticipated declining interest rates in the US and Europe. The European Central Bank is expected to maintain interest rates at their current levels, and investors are closely monitoring indications regarding the timing of a potential rate cut by the Federal Reserve’s Federal Open Market Committee.
Billion-Dollar Dreams: Indonesian Venture Capital Association Targets Rp 20T by 2024
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