One of Indonesia’s leading conglomerate group Sinar Mas is preparing a new investment vehicle in the form of Latitude Venture Partners (LVP). According to a report by Dealstreet Asia, LVP manages up to US$200 million or close IDR3 trillion.
DailySocial spoke to LVP Partner YC Ng about the information, and he declined to confirmed the size of the fund that firm is managing.
“We will not comment on the size of our fund for the time being, but there is an abundant of opportunities in Indonesia considering the early stages of infrastructure across all sectors and industries. Apart from that, we are committed to grow and develop these sectors, as well as channeling investment effectively,” Ng explained.
LVP is the Sinar Mas’s third investment in the startup industry, following its ownership of Sinar Mas Digital Ventures (SMDV). It has also bee involved in the founding of EV Growth (with East Ventures and Yahoo! Japan Capital) to invest in later-stage startups.
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LVP describes itself as a venture capital firm with interests in companies in both industrial and traditional sectors, who have the potential to become a game-changer in its respective fields. LVP teams includes Managing Partner Linda Wijaya and Partner YC Ng.
Based on information that we have received, LVP and SMDV were made separated due to the difference in their funding structure. SMDV is a corporate venture capital that is fully backed by Sinar Mas. Meanwhile, Ng confirmed that LVP will serve as a venture builder and venture capital firm with a 80:20 composition.
As a venture builder, LVP will partner and invest in early stage startups. Meanwhile, as a venture capital firm, LVP targets mid- to late-stage startups with US$1-10 million in ticket size.
Ng said that LVP will focus on investing in healthtech and fintech sectors. Though it is aiming for the global market, LVP affirmed that it will give special attention to startups with operations in Indonesia.
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The article Grup Konglomerat Sinar Mas Siapkan Perusahaan Investasi Baru Latitude Venture Partners was written in Bahasa Indonesia by Prayogo Ryza and Amir Karimuddin for DailySocial. English translation and editing by e27.
Image Credit: Fredrick Kearney Jr on Unsplash
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