JAKARTA - The efforts of PT Bank Negara Indonesia (Persero) Tbk or BNI (BBNI) in establishing venture capital are considered to be encouraging startup companies to grow during this year's economic recovery.

Economist of the Institute for Development of Economics and Finance (INDEF), Nailul Huda, said that BNI's steps in establishing Modal Ventura (Venture Capital Company) were very appropriate. What's more, he sees that many startup companies are increasingly in need of funding from local investors.

"BNI is one of the big banks in Indonesia with large assets and fund management. So the opportunity to invest in digital startup companies has great potential", Nailul said in his statement, Wednesday, July 13.

He explained that currently, many startups have ideas and innovations that have great potential for the Indonesian economy. In fact, many startups have built an ecosystem in the MSME segment to improve the performance quality of small business actors.

With the ability of conglomeration, Nailul believes that BNI Group can provide a stronger business ecosystem for startup companies to encourage economic recovery.

"With more local venture capital, the better. Including what BNI does. Many business potentials are actually of good quality", he explained.

As is known, BNI has officially established and invested in its subsidiary, namely BNI Modal Ventura. The Financial Services Authority (OJK) has approved BNI by making a capital investment of IDR 500 billion.

BNI Corporate Secretary, Mucharom, said that the establishment and equity participation in BNI Modal Ventura is a series of BNI strategies in responding to the potential for digital banking development.

BNI Modal Ventura will become a strategic vehicle for the BNI Group in developing technological innovations within the group. It will also be encouraged to be able to answer the need for capital participation in feasibility and potential start-up businesses.

 

"The hope is that it can accelerate digital transformation in all BNI business lines to add value creation while accelerating the optimization of the potential of the digital economy", Mucharom said recently.

The deed of establishment of Modal Ventura was signed by representatives of shareholders of PT BNI Modal Ventura on April 12, 2022.

BNI owns a 99.98 percent stake in the BNI Modal Ventura, while the remaining 0.02 percent is owned by PT BNI Asset Management.

"The establishment of BNI Modal Ventura will have a positive impact on BNI's consolidation and positioning performance", he concluded.


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