Heaptalk, Jakarta — Singapore’s private equity and venture capital firm Northstar Group has completed its final close of the Northstar Ventures l L.P (NSV l) fund worth US$140 million, or approximately Rp2.1 trillion. Previously, the firm has garnered US$90 million in its earlier close last January this year. By accomplishing the NSV l final close, Northstar obtained its managed fund of over US$2.6 billion.
The NSV l fund targets early-stage startups, specifically startups headquartered or operating significantly in Indonesia and other Southeast Asian countries. Further, the firm will invest in diverse sectors, spanning consumer internet services, financial technology, and enterprise solutions, which will generate long-term business improvement in SEA.
By capitalizing on the Northstar ecosystem, Managing Director of Northstar Ventures, Carlson Lau, observed that NSV l is firmly positioned to provide a growth channel, financial expertise, and industry insight to prospective portfolios.
“We want to accelerate early-stage portfolio growth with a wider network and multi-stage investment capabilities,” Lau added.
NSV is supported by various global investor groups, ranging from serious wealth funds to institutional investors, family offices, and high-net-worth individuals. In its early close, Northstar’s NSV l investment portfolio strategic investment in more than ten early-stage startups in Southeast Asia, including the Jagat application owner UTown, Gently, Maka Motors, and Locofy.ai.
Northstar Group claimed that Indonesia is one of the primary investment objectives in SEA markets, focusing on the financial, retail, telecommunication, technology, and agricultural industries. In aggregate, Patrcik Walujo’s investment firm has several portfolios in Indonesia, such as parenting startup PrimaKu, insurtech platform Bang Jimin, and e-commerce aggregator Una Brands.
“Southeast Asia is the region with the third largest internet users in the world. Increasing levels of prosperity, a technologically savvy generational population, and increasingly advanced digitalization present great startup opportunities. With NSV l, we aim to back the future champions in the technology industry and continue our mission of supporting entrepreneurial founders to create businesses in Southeast Asia and beyond,” Northstart’s Group Chief Investment Officer Wong Shee-Yann said.
