These Are 6 Startups That Will Enter The Pipeline Portolio Investment Mandiri Capital Indonesia

Photo: (Aris Nurjani/VOI)

JAKARTA - PT Mandiri Capital Indonesia (MCI) will sort six startups through the newly launched startup accelerator program, Zenith.

The six startups are Imajin, Lifepack, Fishlog, AI Rudder, Practical and Recosystem

MCI's Chief Investment Officer, Dennis Pratistha said, said that the six startups could have the opportunity to join the MCI portfolio because they had been filtered through Zenith, which is an MCI acceleration for integration strategy.

Dennis added that the six startups had gone through a business matching process with other SOE ecosystems and had potential for future growth.

According to Dennis, the startups will enter the next MCI investment portfolio pipeline and will pass the due diligence to determine whether to enter the MCI portfolio or not.

"We are processing the 6th, the name is due diligence. But we still don't know our investment. It's just that the team is still in the due diligence process," said Dennis at the Mandiri Tower, Thursday, November 9.

Although 2023 is still the tech winger season or the dragging of funding from investors to startups, he continued. MCI will remain active in finding new investment opportunities.

"Starting funding in 2023 has indeed decreased very drastically, yes, until the third quarter, and in the fourth quarter of 2023, I think it will start to become active again. Independent Capital Investment is now active in several potential investments, so we have started to actively research, we don't stop seeing investment opportunities," he said.

Dennis explained that MCI's investment strategy from year to year has not changed while still using the screening of startup candidates to be chosen as portfolios. And will remain selective in funding.

The reason is, MCI sees a slowdown in the economy at both the global and Indonesia levels.

"Wit and see that we are selective, from the start our strategy has not changed, we are always selective like what I high-high we only invest in confident companies that help them grow," he explained.

On the other hand, the MCI portfolio startup has begun to focus on financial performance, especially to achieve profit and be careful by optimizing its spending and focusing on implementing strategies to achieve profit.

"We only see companies that have the potential to reach profitability, we are not photo-investors, we are really very selective about companies that can really be subscribed," he explained.

The most important thing to watch out for in 2023 is how companies grow, maintain valuation and survive in conditions that tend to be difficult and challenging.