Heaptalk, Jakarta — The Founders of Indonesia’s coffee chains, Kopi Kenangan, James Prananto, and Fandy Cendrajaya, have launched the initial managed funds of their venture capital firm Kopital Ventures worth US$12 million, or approximately Rp190 billion. The company claimed this fund raised significantly exceeded the initial objective of US$5 million.
The team will disburse this capital to invest in around 30 – 40 Indonesia’s early-stage agnostic sector startups in the next three years. Kopital Ventures’ early managed fund comes from several venture capital and family offices, consisting of Saison Capital, Trihill Capital, Impact Ventures, and Alto Partners Multi-Family Office as strategic investors.
“Kopital Ventures’ role as a strategic investor is injecting funds and connecting early-stage founders with mentors who are members of the Kopital Network. They also have access to international investors to obtain growth-stage investments.” The Founding Partner of Kopital Ventures, Fandy Cendrajaya, affirmed.
Previously, these founders introduced Kopital Network as the place to accommodate angel investors who are dominantly from the growth-stage founders. Established from several angel investors, they have developed Kopital Ventures into a venture capital firm. The establishment of Kopital Ventures also comes from the strategic collaboration with Singapore-based venture capital firm Farquhar Venture Capital.
These angel investors (James and Fandy) claimed they had injected fresh funds into diverse agnostic-sector startups, spanning FishLog, gajiGeda, Somethinc, and Rekosistem. Also, the other Kenangan Coffee Co-Founder, Edward Tirtanata, has previously initiated a venture capital company through Kenangan Capital and has invested in several startups such as Eratani, Makmur, Noice, and Medigo.
“Fandy and I considered establishing a venture capital company that could help startups to be more advanced, specifically during the tech-winter issues in 2022. One of the most challenging founders or startup operators who have been through this journey is related to idea exchange. Therefore, we aim to utilize our experience in bolstering the startup to enhance significantly in the tech ecosystem,” said Kopital Ventures’ Founding Partner.
The presence of this VC and the newly managed fund is expected to become a new alternative for the startup ecosystem in the archipelago and validate investors’ trust in the potential of the coming startup founders.
