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January 23, 2024
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Innovative AC Ventures secures $210M funding for SEA tech enterprises

AC Ventures, an Indonesia-based venture capital firm, has raised $210 million for its fifth investment fund, ACV Capital V L.P. The fund will support tech-enabled businesses in Indonesia and Southeast Asia. Over 50% of the fund’s commitments come from returning investors, with institutional capital making up over 90% of the total funds. Key investors include the International Finance Corporation, as well as financial institutions from the US, the Middle East, and North Asia.

AC Ventures has already begun deploying capital from the new fund, investing in companies such as Indonesian electric vehicle manufacturer MAKA Motors and sustainable farming startup Koltiva. The firm aims to prioritize companies that not only deliver strong financial returns but also have a positive environmental and social impact.

The macroeconomic environment and digital economy in Indonesia are expected to grow significantly in the coming years, with experts predicting the nation’s digital economy to reach $360 billion by 2030. AC Ventures sees Indonesia as a vibrant investment hub, driven by a young and growing population, rising prosperity, and a pro-investment government. The firm aims to contribute to Indonesia’s economic growth and position itself as a generational partner to visionary founders and high-potential ventures.

AC Ventures differentiates itself in Indonesia by providing hands-on value-creation services to its portfolio companies. Its value creation team offers functional support in areas such as business development, strategic partnerships, talent advisory, fundraising, and ESG guidance. The firm also has a network of external expert advisors, including industry veterans, entrepreneurs, lawyers, and tech innovators.

The firm is committed to diversity and inclusion, with 50% of its senior leadership roles filled by women. It also aims to support female founders who are often neglected in the tech ecosystem. AC Ventures believes that gender equality brings varied perspectives that are crucial for decision-making and understanding diverse markets.

Euan Marshall, IFC Country Manager for Indonesia and Timor-Leste, highlighted the importance of supporting tech-enabled businesses in driving innovation and addressing development challenges. He stated that supporting venture capital through funds like ACV Capital V can help startups and digital entrepreneurs in Indonesia and beyond.

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