February 1

Indonesia’s Largest Private Bank To Pour $27.8 Million Into VC Arm

Indonesia’s Bank Central Asia (BCA) has allocated 400 billion rupiah (around US$27.8 million) to its VC arm, Central Capital Ventura, reported local news agency Antara, citing a statement from Jahja Setiaatmadja, the bank’s president director.

The the VC firm will continue to invest in startups that can combine financial services with other sectors such as logistics, health, and commerce.

Founded in 2017, Central Capital Ventura had raised US$15 million for its maiden fund. So far, it has invested in 26 startups, including insurance platform Qoala, payment company Oy, and peer-to-peer lending firms Akseleran and KlikA2C.

Photo courtesy of lau rey.

Source: TechInAsia (link opens in a new window)

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