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BRI Ventures, Fundnel Singapore sign MoU on startups in Indonesia

Indonesian Ambassador to Singapore Suryo Pratomo (center) at the signing of the memorandum of understanding ‘Strategic Partnership: Indonesia Secondary Fund’ at the Indonesian Embassy in Singapore on Monday (May 9, 2022). (The Indonesian Embassy in Singapore)

Jakarta (Indonesia Window) – In an effort to bring in more funding for Indonesian startups, BRI Ventures and Fundnel signed an MoU ‘Strategic Partnership: Indonesia Secondary Fund’ at the Indonesian Embassy in Singapore on Monday (May 9).

The Fundnel Group is Southeast Asia’s largest marketplace for alternative assets, with the aim of expanding access and liquidity in the private capital market, according to an official statement from the Indonesian Ministry of Foreign Affairs released on Tuesday.

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The signing of the MoU is expected to be a means of exploring secondary funds to ensure the funding needed by Indonesian startups so that they can continue to grow and develop.

While witnessing the signing of the MoU, the Indonesian Ambassador to Singapore, Suryo Pratomo, emphasized the importance of cooperation among countries, especially after the COVID-19 pandemic.

“If the 10 ASEAN countries only prioritize competition among them, it would be difficult to face other major powers outside the region. As an area with huge market potential, close cooperation among the ASEAN countries is needed,” the ambassador said.

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In addition to having huge market potential, the ASEAN countries, especially Indonesia, also have a digital economy that continues to grow rapidly, and therefore the collaboration between BRI Ventures and Fundnel is very appropriate and needed at this time, Suryo Pratomo added.

On the same occasion, Chief Executive Officer of BRI Ventures, Nicko Widjaja, said that the availability of funding for startups is very important to ensure their sustainability in Indonesia.

Nicko hoped that this cooperation could be realized by bringing more foreign funding and investment to Indonesia.

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Meanwhile Fundnel’s Chief Commercial Officer Benjamin Twoon stated that the collaboration is important for the largest market in Southeast Asia for this alternative asset, which since its establishment has had great interest in Indonesia.

“I hope this collaboration can have a real impact on the Indonesian economy and also startups in Indonesia,” he said.

Reporting by Indonesia Window

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