Intudo, an Indonesian venture capital firm, recently announced that it has successfully raised $125 million across two investment funds. This includes $75 million for Intudo Ventures IV and $50 million for another fund focused on downstream natural resources and renewable energy.
The primary focus of Fund IV will be to invest in Indonesian startups that capitalize on the country’s strategic location, digital advancements, and growing middle-class population. This includes startups in consumer products, aquaculture, horticulture, commercial distribution, regulatory, and deep tech sectors. On the other hand, the second fund aims to leverage Indonesia’s strong position in the global nickel and cobalt market to invest in natural resources and renewable energy.
Eddy Chan, a founding partner of Intudo, emphasized the importance of identifying areas where Indonesia can compete globally. He highlighted the success of other countries in specific industries such as semiconductors in Taiwan, electronics in Japan, and cybersecurity in Israel. Chan believes that Indonesia’s strength lies in aquaculture shrimp farming and aims to find “gold” in this sector.
Intudo typically invests between $1 million and $10 million in Indonesian companies, targeting a portfolio of 14-18 companies. The firm aims to acquire significant ownership stakes in these companies through Intudo Ventures IV. Chan mentioned that in a typical Series A round, they would invest $3 million to $5 million for stakes ranging from 20% to 30%.
Unlike many other funds in the market, Intudo distinguishes itself by focusing solely on Indonesia. The firm ensures that 100% of its investments are in Indonesia, offering a unique value proposition to its limited partners. Patrick Yip, another founding partner at Intudo, highlighted the firm’s commitment to equitable treatment for all LPs and maintaining an independent investment thesis.
Intudo has been successful in attracting a diverse group of investors from around the world, including institutions, family offices, and prominent individuals. The firm has received investments from global funds, managing partners, billionaires listed in Forbes, and influential families in Indonesia. This broad LP base has enabled Intudo to secure follow-on investments for 80% of its deals from various regions globally.
The firm is currently finalizing several deals that will be disclosed in the coming months. With more than $350 million in assets under management and a team of 12 professionals, Intudo is well-positioned to continue supporting the growth of the Indonesian startup ecosystem.
One notable investment from the new natural resources fund is CarbonEthics, an Indonesia-based developer of tech-enabled natural climate solutions. Intudo’s strategic investments are not only aimed at generating financial returns but also at driving positive environmental and social impact in Indonesia.
