This Is Indonesia's Independent Capital Plan To Increase Value Creation

Startup illustration (Photo: Doc. Antara)

JAKARTA PT Mandiri Capital Indonesia (MCI), said that throughout 2023 it will not only contribute to the development of the startup ecosystem. However, it is also committed to creating value creation in order to achieve an innovative and sustainable business through the implementation of the XYZ program.

The XYZ program includes the Xponent program for business matching startups with Mandiri Group, the Xchange program by innovating benchmarks on several innovation labs in Singapore.

Furthermore, Y-Axis is accommodated by startups to expand the network against tech-community, investors and corporations. As well as the Zenith Accelerator program aimed at business development and collaboration with the Mandiri Group ecosystem.

Mandiri Capital Indonesia CEO Ronald Simorangkir said MCI's main focus was not only on creating financial value, but also on value creation in business activities.

"MCI is here to accommodate startups/technology companies, one of which is through a series of XYZ programs that have been adjusted to the needs of startups in various stages of development," he explained in his statement Wednesday, January 17, 2024.

Ronald conveyed that this commitment is expected to be able to bring change as well as create a business that has value and impact for the wider community.

Ronald said that throughout 2023, MCI has initiated various funding activities by collaborating with various parties, including collaboration with five Corporate Venture Capital (CVC) from BUMN in the formation of the Merah Putih Fund, the establishment of the BTN Fund with Bank BTN.

Furthermore, a joint strategic partnership with Investible to manage Mandiri Investible Global Climate Tech Fund is aimed at supporting startups in the Climate Tech sectors in Southeast Asia and Oceania.

Investment Director of Mandiri Capital Indonesia, Dennis Pratista, said that throughout 2023, through his portfolio startup, MCI has had a strong contribution to Indonesia's digital economy.

"Entering 2024, MCI has a bold aspiration to increase its contribution to the digital economy. One of them is by making investments supported by our new fund and becoming a Provinent Global VC Player," he explained.

Dennis said that through the establishment of several new funds, MCI will develop investment strategies through collaboration with strategic partners. Thus, MCI can access new sectors, both inside and outside Indonesia.

"In addition, MCI also provides opportunities for our 23 portfolio startups to access new markets, including expansion into the international market," he said.