Kejora Capital & SBI Holdings Announced Partnership to Launch Early-Stage Fund.
- Kejora Capital & SBI Holdings formed a joint venture to launch ORBIT, a USD 30M new early stage fund, focusing on investment in technologies companies in Indonesia.
- The Fund will have first closing on June 30, 2020 with confirmed investors on board.
- Billy Boen is appointed as Director of Orbit Fund, leading the operation and investment initiatives.
JAKARTA, Indonesia, June 5, 2020 /PRNewswire/ -- Kejora Capital (Head Office: Jakarta; Managing Partners: Sebastian Togelang, Andy Zain) and SBI Holdings (Head Office: Minato-ku, Tokyo; President & CEO: Yoshitaka Kitao) today announced a joint venture to launch SBI Kejora Orbit Fund I, a USD 30 Million, early-stage technology fund, focusing on investment in Indonesia.
The Fund is expected to complete its first closing by June 30, 2020, with confirmed investors and will start the deployment immediately. Orbit will invest between US$ 200,000 - US$ 3 Million per ticket size in thematically targeted technology areas, including Supply Chain, Education, Medical, Consumer Goods & Retail, Agriculture, Financial Technology, and Digital Media.
The Fund is the successor of Kejora Star Capital II ("KSC II"), Kejora's early-stage investment vehicle launched in 2016, which recently listed as Top 10 Global Performing Fund in the 2020 Preqin Global Private Equity & Venture Capital Report.
For SBI Holdings, since 2011 had made investments in Indonesia through the regional investment vehicle, with portfolios including Tokopedia, Investree, Ralali, Amartha, and Taralite. This joint venture fund marks SBI's first Fund focusing solely on Indonesia.
"Over the years, Kejora has built robust ecosystem support & synergy across our portfolios and partners, which proven to allow us to manage low investment risk and deliver strong returns to our investors. We're proud to continue building on this momentum with Orbit Fund, alongside SBI Holdings," said Andy Zain, Managing Partner at Kejora Capital.
"We are very pleased to officially announce the launch of our joint venture with Kejora. Since our first co-investment with Kejora more than three years ago, we have continuously cemented our confidence in the Indonesian technology sector through investments and partnerships. As such, we are thrilled to renew our commitment to the technology asset class in Indonesia with the launch of Orbit Fund," said Yoshitaka Kitao, President & CEO of SBI Holdings.
The Fund also announced appointment of Billy Boen, as Director of the Orbit Fund. Billy is a well-connected figure in the entrepreneurial world in Indonesia with multi industries experience. Billy has been an angel investor and has also taken advisory roles in various companies from tech startups to the largest enterprise in Indonesia.
"More than ever, startups nowadays need support from experienced VC. Orbit Fund will not only provide financing but also offer combined resources from Kejora and SBI and insights from the extensive portfolio companies across the 25 countries to help build a strong generation of startups in Indonesia," said Billy Boen, Director at Orbit Fund.
Orbit Fund will be led by Billy Boen and Shunichi Keida, alongside with Leon John Hermann, Yudi Anugrah, and Richie Wirjan. The team represents decades of experience in managing and investing in technology assets in Indonesia.
The Fund received strong backing from a diverse group of investors, including family offices, high net worth individuals, corporations, and other institutional investors across Indonesia, Singapore, Japan, and Europe.
About Kejora Capital
Founded in 2014, Kejora Capital is a leading venture capital firm focusing on investment in technology companies in Southeast Asia. Kejora operates multiple funds and invests from early-stage to growth-stage companies. With currently USD 380M assets under management, Kejora look after 35 portfolios across Indonesia, Malaysia, Singapore, Thailand, Philippines, Korea, and Hong Kong. In 2020, Kejora was named as one of the Top Global Performing VC issued by Preqin, which Kejora Star Capital II was ranked #8 globally and #1 among Southeast Asia funds.
About SBI Holdings
The SBI Group was established in 1999 as a pioneer of Internet-based financial services in Japan. Since then, the SBI Group has formed the world's first Internet- based financial conglomerate, providing financial services in a broad range of fields including securities, banking and insurance. In addition, the SBI Group provides Asset Management Business, with a prime focus on investment in venture companies - an activity undertaken since before the Group's founding. In this sphere, the SBI Group has made focused investments in the IT and biotechnology sectors, which are the 21st century growth industries. Currently, the development of new technologies is accelerating within the FinTech, IoT, AI, Big Data and related fields, thus attracting global attention. The SBI Group is proactively investing in venture companies within these fields.
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