Indonesia's Alpha JWC Ventures raises US$433 million in early-stage fund
SINGAPORE : Indonesia-focused Alpha JWC Ventures has raised US$433 million from global and regional investors, including the International Finance Corporation, for its third fund as venture capitalists scale up investments in thriving tech start-ups.
"Alpha JWC's main focus lies in the early stage, from Pre-Seed to Pre-Series A, whereby we also actively follow through the start-ups's Series A, Series B and beyond," Jefrey Joe, co-founder and general partner at the venture capital firm, said in a statement on Tuesday.
He said the size of investments ranged from as low as US$100,000 to up to US$60 million in multi-stage funding.
Alpha JWC said the third fund, one of the largest early-stage funds in Indonesia, had pushed its assets under management to US$630 million.
Venture funding is thriving in Southeast Asia - home to about 650 million people - amid a technology boom that has accelerated as more consumers move online during the COVID-19 pandemic.
Alpha JWC said its latest fund had already invested in seven companies in fintech and small and medium enterprises, among others, in Indonesia, Singapore and Vietnam.
(Reporting by Anshuman Daga; Editing by Mark Potter)
