Encouraging Digitalization Ecosystem Growth, INA And Granite Asia Prepare 1.2 Billion US Dollars

Illustration (Photo: Doc Antara)

JAKARTA - Indonesia Investment Authority (INA) and Granite Asia establish strategic partnerships in accelerating digital transformation and supporting the growing technology ecosystem in Indonesia that is developing.

INA and Granite Asia will allocate up to 1.2 billion US dollars to strengthen Indonesia's technology sector and provide the capital and resources needed for cross-industrial businesses to support digital integration or bring advanced technology into the country.

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.

Chairman of the Board of Directors of INA Ridha Wirakusumah said that by utilizing equity and hybrid capital solutions, this collaboration aims to meet financing needs that exceed conventional bank loans, especially for technology-based companies that require flexible and capital solutions according to needs, as well as for traditional businesses that are undergoing technological transformation and pursuing sustainable growth.

Ridha said that establishing a partnership with Granite Asia, a leading investor with an impressive track record for 24 years in technology investment, is in line with the focus of our strategic sector in the field of Digitalization and Digital Infrastructure.

"Their in-depth expertise in technology and technology-based business is in line with INA's strategic priorities to encourage sustainable innovation and growth in Indonesia," he said in his statement, Monday, November 4.

According to Ridha, this partnership allows him to introduce transformative technology to Indonesia, facilitate digital transformation in key sectors, and strengthen.

"Together, we are working to build a strong foundation for Indonesia's future by presenting the best global innovation that will contribute to the country's long-term economic development," he explained.

Ridha conveyed that this strategic collaboration 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.

According to him, 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.

Senior Managing Partner of Granite Asia Jenny Lee added that collaboration with INA provides a unique opportunity for us to combine Granite Asia's global expertise in technology investment with INA's local insight and strategic vision for Indonesia.

"We see great potential in Indonesia's rapidly growing economy and technology ecosystem, and are very enthusiastic about partnering with INA to help accelerate this transformation," he said.

Jenny said that by utilizing equity and hybrid capital solutions, her party could offer adjusted 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 a future based on regional technology," he added.