www.businesstimes.com.sg Open in urlscan Pro
152.195.53.96  Public Scan

Form analysis
3 forms found in the DOM

<form class="gsc-search-box gsc-search-box-tools" accept-charset="utf-8">
  <table cellspacing="0" cellpadding="0" class="gsc-search-box">
    <tbody>
      <tr>
        <td class="gsc-input">
          <div class="gsc-input-box" id="gsc-iw-id1">
            <table cellspacing="0" cellpadding="0" id="gs_id50" class="gstl_50 gsc-input" style="width: 100%; padding: 0px;">
              <tbody>
                <tr>
                  <td id="gs_tti50" class="gsib_a"><input autocomplete="off" type="text" size="10" class="gsc-input" name="search" title="search" id="gsc-i-id1" dir="ltr" spellcheck="false"
                      style="width: 100%; padding: 0px; border: none; margin: 0px; height: auto; outline: none;"></td>
                  <td class="gsib_b">
                    <div class="gsst_b" id="gs_st50" dir="ltr"><a class="gsst_a" href="javascript:void(0)" title="Clear search box" role="button" style="display: none;"><span class="gscb_a" id="gs_cb50" aria-hidden="true">×</span></a></div>
                  </td>
                </tr>
              </tbody>
            </table>
          </div>
        </td>
        <td class="gsc-search-button"><button class="gsc-search-button gsc-search-button-v2"><svg width="13" height="13" viewBox="0 0 13 13">
              <title>search</title>
              <path
                d="m4.8495 7.8226c0.82666 0 1.5262-0.29146 2.0985-0.87438 0.57232-0.58292 0.86378-1.2877 0.87438-2.1144 0.010599-0.82666-0.28086-1.5262-0.87438-2.0985-0.59352-0.57232-1.293-0.86378-2.0985-0.87438-0.8055-0.010599-1.5103 0.28086-2.1144 0.87438-0.60414 0.59352-0.8956 1.293-0.87438 2.0985 0.021197 0.8055 0.31266 1.5103 0.87438 2.1144 0.56172 0.60414 1.2665 0.8956 2.1144 0.87438zm4.4695 0.2115 3.681 3.6819-1.259 1.284-3.6817-3.7 0.0019784-0.69479-0.090043-0.098846c-0.87973 0.76087-1.92 1.1413-3.1207 1.1413-1.3553 0-2.5025-0.46363-3.4417-1.3909s-1.4088-2.0686-1.4088-3.4239c0-1.3553 0.4696-2.4966 1.4088-3.4239 0.9392-0.92727 2.0864-1.3969 3.4417-1.4088 1.3553-0.011889 2.4906 0.45771 3.406 1.4088 0.9154 0.95107 1.379 2.0924 1.3909 3.4239 0 1.2126-0.38043 2.2588-1.1413 3.1385l0.098834 0.090049z">
              </path>
            </svg></button></td>
        <td class="gsc-clear-button">
          <div class="gsc-clear-button" title="clear results">&nbsp;</div>
        </td>
      </tr>
    </tbody>
  </table>
</form>

/

<form id="newsletter-signup" action="/" class="flex flex-wrap justify-content-center ng-pristine ng-valid">
  <div class="flex align-items-center">
    <div class="group">
      <input type="email" class="form-control" id="newsletter-email" placeholder="Your email address" required="">
      <a href="https://sph.com.sg/legal/website_tnc.html" target="_blank" class="terms">Terms &amp; conditions</a>
    </div>
    <div class="action">
      <button type="submit" class="btn btn-green">Sign up</button>
    </div>
  </div>
</form>

/

<form id="newsletter-signup" action="/" class="flex flex-wrap justify-content-center xs-mb-30 md-mb-0 ng-pristine ng-valid">
  <div class="messages"></div>
  <div class="flex">
    <div class="group">
      <input type="email" class="form-control" id="newsletter-email" placeholder="Your email address" required="">
      <a href="https://sph.com.sg/legal/website_tnc.html" target="_blank" class="terms">Terms &amp; conditions</a>
    </div>
    <div class="action">
      <button type="submit" class="btn btn-green">Sign up</button>
    </div>
  </div>
</form>

Text Content

×

Hello, your email is unverified. Please confirm for access to all your SPH
accounts. RESEND VERIFICATION EMAIL




Skip to main content
SUBSCRIBE LOG IN
Facebook
Twitter
Whatsapp
LinkedIn
Telegram
Email

 * SUBSCRIBE
 * LOG IN

STARTUPS IN-DEPTH
BY THE BUSINESS TIMES

 * News
 * Opinion
 * Profiles
 * Funding

 * --------------------------------------------------------------------------------

 * News
 * Opinion
 * Profiles
 * Funding

 * --------------------------------------------------------------------------------

×

search
 



BEST DIGITAL NEWS START-UP, WAN-IFRA 2019 GOLD AWARD





AC VENTURES CLOSES THIRD FUND AT OVER US$205M TO INVEST IN INDONESIA

Garage


AC VENTURES CLOSES THIRD FUND AT OVER US$205M TO INVEST IN INDONESIA

Wed, Dec 01, 2021 - 8:00 AM
@ClaudiaChongBTchongkmc@sph.com.sg@ClaudiaChongBT
2 -min read
Listen to this article
Wed, Dec 01, 2021 - 8:00 AM
@ClaudiaChongBT chongkmc@sph.com.sg @ClaudiaChongBT
2 -min read
Listen to this article

AC Ventures, an early-stage venture capital (VC) firm based in Indonesia, has
closed its third fund with over US$205 million in committed capital from
investors, including the World Bank's International Finance Corporation (IFC)
and Disrupt AD, Abu Dhabi Developmental Holdings' venture platform.

This brings the firm's total assets under management to over US$380 million
across its funds.

The third fund had its third close in March 2020 and has completed 30
investments out of a targeted 35. AC Ventures said it anticipates over US$100
million will be deployed by end-2021.



Among its pre-Series A investments are Shipper, Stockbit, Ula, Aruna and
BukuWarung.

AC Ventures was formed in 2019 as a merger between two VC funds in Indonesia -
Agaeti Venture Capital and Convergence Ventures. It has a portfolio of over 100
companies across its funds, including unicorns Xendit and Carsome.

The firm said its 2015 vintage fund has a multiple on invested capital (MOIC) of
2.99 times; the 2018 vintage fund has a MOIC of 2.41 times.


SEE ALSO

CARRO BAGS US$100M FROM TEMASEK, INTERNATIONAL INVESTORS

GET THE LATEST ON STARTUPS
AND BUSINESS NEWS

Terms & conditions
Sign up



Pandu Sjahrir, founding partner of AC Ventures, said: "Not only does the
resilience of Indonesia's economy in the face of this adversity give Internet
sectors a massive opportunity to rebound, but the exit landscape is also heating
up, as we will see notable public exits in the coming future from regional tech
giants."







BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend.
Subscribe to t.me/BizTimes

venture capital
startup funding
Purchase this article
Facebook LinkedIn Twitter Pinterest Reddit Email Print



MORE FROM GARAGE

01:20 PM
Dec 1, 2021 01:20 PM
Garage


CARRO BAGS US$100M FROM TEMASEK, INTERNATIONAL INVESTORS

ONLINE car marketplace Carro has raised US$100 million in equity from investors
including Temasek, at a valuation...

01:20 PM
Dec 1, 2021 01:20 PM
Garage


CARRO BAGS US$100M FROM TEMASEK, INTERNATIONAL INVESTORS

ONLINE car marketplace Carro has raised US$100 million in equity from investors
including Temasek, at a valuation...

12:24 PM
Nov 30, 2021 12:24 PM
Garage


SPACETECH STARTUP SPEQTRAL SECURES US$8.3M IN FUNDING ROUND LED BY TEMASEK UNIT

SPACETECH startup SpeQtral has closed a US$8.3 million financing round led by
Temasek's early-stage deep science...


BREAKING

11:12 AM
Dec 2, 2021 11:28 AM
Government & Economy


BANK OF JAPAN SEEKS WAYS TO MITIGATE COST OF MONETARY EASING: BOARD MEMBER

[TOKYO] The Bank of Japan will continue to seek ways to improve its policy
framework to mitigate the cost of...

UPDATED 13 mins ago
10:35 AM
Dec 2, 2021 10:42 AM
Energy & Commodities


TOP OIL PRODUCERS MAY FREEZE OUTPUT AMID OMICRON CONCERNS

[LONDON] Major oil producers are due to meet on Thursday to decide on output
levels from January onwards, which...

UPDATED 59 mins ago
10:34 AM
Dec 2, 2021 10:34 AM
Government & Economy


SOUTH KOREA SLAPS 10-DAY QUARANTINE ON ALL INBOUND TRAVELLERS AS IT HITS RECORD
DAILY COVID CASES

[SEOUL] South Korea's daily coronavirus case numbers rose to a new high on
Thursday, as authorities halted...

More from The Business Times
 * 
   SGAG has the last laugh; Singapore startup rakes in profits from day one Nov
   25, 2021
 * 
   SPAC led by Singapore-based businessman raises US$86.3m in Nasdaq IPO Nov 25,
   2021
 * 
   Is the Omicron sell-off a buying opportunity? Nov 29, 2021
 * 
   Canada PM Trudeau says he is extremely concerned by soaring cost of living
   Nov 25, 2021

From around the web
 * 
   Schicke nette Botschaften an Freunde und Familie Ferrero
 * 
   Willkommen in einer neuen Welt Volkswagen
 * 
   Hier sind 15+ der coolsten Geschenke für 2021 Top Tech Today Dec 31, 1969
 * 
   Why IT outsourcing is the biggest post-pandemic trend CIO Sep 15, 2021

Recommended by

 
× GIFT A STORY


SHARE THIS SUBSCRIBER-ONLY STORY WITH ANYONE. TO READ IT, CREATE A FREE ACCOUNT.

"AC Ventures closes third fund at over US$205m to invest in Indonesia"

Start sharing now

COPY LINK

× GIFT A STORY


YOU HAVE RECEIVED A GIFT!
UNLOCK THIS SUBSCRIBER-ONLY STORY BY
SIGNING UP OR LOG IN TO START READING.

"AC Ventures closes third fund at over US$205m to invest in Indonesia"

SIGN UP FOR FREE

Already have an account? Log in

× GIFT A STORY


THANK YOU FOR REGISTERING!
YOU HAVE UNLOCKED THIS SUBSCRIBER-ONLY STORY.

START READING
× GIFT A STORY


PLEASE VERIFY YOUR EMAIL TO READ
SUBSCRIBER-ONLY STORIES.

RESEND VERIFICATION EMAIL
× GIFT A STORY


LIMIT REACHED!
YOU HAVE REACHED YOUR MONTHLY LIMIT OF
SUBSCRIBER-ONLY STORIES. TO GET FULL ACCESS,
PLEASE SUBSCRIBE NOW.

The Business Times Personal Edition at
$9.90/month* SUBSCRIBE NOW

Find out more about subscription packages here.

× GIFT A STORY


LINK EXPIRED!
YOUR GIFT LINK FOR THIS SUBSCRIBER-ONLY
STORY HAS EXPIRED. TO GET FULL ACCESS,
PLEASE SUBSCRIBE NOW.

The Business Times Personal Edition at
$9.90/month*

*Terms and conditions apply.

SUBSCRIBE NOW

Find out more about subscription packages here.

× GIFT A STORY


ENJOY READING!
ENJOY YOUR SUBSCRIBER-ONLY STORY!

START READING
× GIFT A STORY


LINK INVALID!
PLEASE ENSURE THAT YOU HAVE THE CORRECT LINK.

Subscribe to
The Business Times Personal Edition at
$9.90/month*

*Terms and conditions apply.

SUBSCRIBE NOW

Find out more about subscription packages here.


STAY UPDATED

GET THE LATEST ON STARTUPS AND BUSINESS NEWS

Terms & conditions
Sign up


All the startup news, insights and opinions behind one door

TOPICS

News Opinion Profiles Funding

FOLLOW US



Powered by

STARTUPS IN-DEPTH
BY THE BUSINESS TIMES

NEWS

OPINION

PROFILES

FUNDING

FOLLOW US



Powered by

Contact Us Terms & Conditions Data & Protection Policy Advertise
SPH Media Digital News / MCI (P) 028/10/2021 © 2021 SPH MEDIA LIMITED. REGN NO.
202120748H
Contact Us Terms & Conditions Data & Protection Policy Advertise
SPH Media Digital News / MCI (P) 028/10/2021 © 2021 SPH MEDIA LIMITED. REGN NO.
202120748H

search by queryly Advanced Search

Back to top
✓
Thanks for sharing!
AddToAny
More…