INA And Granite Asia Invest 1.2 Billion US Dollars In The Digital Sector

Chairman of the Board of Directors of INA Ridha Wirakusumah. (Photo: Doc. Antara)

JAKARTA - The Indonesia Investment Authority (INA) and Granite Asia have established a strategic partnership through the Investment Framework Agreement (IFA) to invest US$ 1.2 billion to accelerate digital transformation.

Chairman of the Board of Directors of INA Ridha Wirakusumah said this partnership emphasized the commitment of both parties to strengthen the Indonesian technology sector and provide the capital needed for cross-industrial businesses to support digital integration.

"INA and Granite Asia will allocate up to 1.2 billion US dollars in various investment opportunities that are in line with the strategic priorities of the two organizations," Ridha said in a statement in Jakarta, quoted from Antara, Monday, November 4.

This investment will cover investment in the form of equity and hybrid capital solutions with a main focus on business actors in Indonesia and business actors who have a connection (nexus) with Indonesia, either through existing operational activities or introducing technology that is beneficial for the domestic market in the long term.

This multi-asset approach allows INA and Granite Asia to be able to offer customized funding solutions for businesses at various stages of development, encourage innovation, as well as optimize yields with measurable risk for investors.

By utilizing hybrid equity and solutions (hybrid capital solutions), this collaboration aims to meet financing needs that go beyond conventional bank loans, especially for technology-based companies that require flexible capital solutions that suit needs, as well as for traditional businesses that are undergoing technological transformation and pursuing sustainable growth.

Their in-depth expertise (Granite Asia) in technology and technology-based business is in line with INA's strategic priorities to encourage sustainable innovation and growth in Indonesia. This partnership allows us to introduce transformative technology to Indonesia, facilitate digital transformation in key sectors, and strengthen a wider technology ecosystem," he explained.

Similarly, Senior Managing Partner of Granite Asia Jenny Lee added, the collaboration provides an opportunity to combine Granite Asia's global expertise in technology investment with INA's local insight and strategic vision for Indonesia.

He saw great potential in Indonesia's rapidly growing economy and technology ecosystem, and was very enthusiastic about partnering with INA to help accelerate this transformation.

By leveraging equity and hybrid capital solutions, Granite Asia can offer customized funding to meet the needs of various businesses in various stages of their technological travel.

"Together, we will encourage innovation, support sustainable growth, optimize the potential long-term value for the Indonesian economy, and help position this country as a leader in the future based on regional technology," he said.

This strategic collaboration, continued Jenny, emphasized INA's dedication to encouraging innovation and digitization through collaboration with global investors to meet Indonesia's economic capital needs in a sustainable manner.

This also reflects INA and Granite Asia's long-term commitment to optimizing Indonesia's economic potential, ensuring that Indonesia remains competitive and ready to face the future in the midst of a global landscape that is increasingly technology-oriented.