SYDNEY And Jakarta, Indonesia And SINGAPORE, October 30, 2023 /PRNewswire/ — Mandiri Capital Indonesia (MCI) and Investible have signed a Term Sheet and will establish a new early-stage climate technology Co-GP fund aimed at identifying and investing in climate technology and innovation, at scale worldwide.
MCI is the Corporate Venture Capital subsidiary of Indonesia the largest financial institution, Bank Mandiri, and Investible is a Asia Pacificearly-stage venture capital firm based in Sydney And Singapore.
Once fully established, the joint venture, called Mandiri-Investible Global Climate Tech Fund, will leverage the expertise and resources of both companies to identify, invest in and provide support to climate technology startups, addressing the pressing issues of climate change in the world. South East Asia and the regions of Oceania and beyond.
The Fund’s investment strategy will be supported by strengthening economic ties between Australia, Indonesia, Singapore, and the region as a whole. The partnership between one of Australia the most active early-stage venture capital firms and a leading financial institution illustrate the growing connections between Australia And South East Asia as seen at the recent ASEAN Summit and Australia Southeast Asia Economic Strategy to 2040.
Launched in 2021, Investible’s Climate Tech strategy has already screened more than 3,200 opportunities across 20 countries and invested in 19 early-stage companies to date through Investible’s Australian Climate Tech Fund, including its lead investment recently announced in battery recycling startup Renewable Metals, energy management platform. CIM, and Singaporebiotechnology company based in TeOra.
This new climate fund will offer a sustainable investment alternative in a region facing significant environmental challenges and immense opportunities. Where the fund focuses directly on climate technology, the initiative aligns with market demands and advances regional sustainability goals.
The primary objective of the fund is to leverage the complementary strengths of Indonesia, South East AsiaAnd Australiaand will include allocations of up to 30% of its investments in Indonesia — the fourth largest population in the world and Southeast Asia the greatest economy.
Investable CEO Rod Bristow said “Indonesia offers significant growth potential and a diverse and dynamic startup landscape which, alongside the mature deep-tech and research-based ecosystem of Australia And that of Singapore established hub for trade, capital and climate innovation, demonstrate the region’s potential to become a leader in climate technology.
Bristow also noted that “Investible is pleased to work with the MCI team and the Bank Mandiri Group as a whole on the Mandiri Investible Global Climate Tech Fund. MCI recognized the unique opportunity presented by Investible’s proprietary investment process, methodology, networks and experience as an early stage investor in climate technologies. We are excited to further establish our presence on the ground in Indonesia to bring this investment strategy to life.
Investible is well established in South East Asiaactively investing through its Singapore office since 2018 and one of the few Australian companies on the ground. The VC has made several investments in Indonesian startups, including Eden FarmRakamin Academy, BintanGO and MyRobin – a recent release for Investible’s Fund 2.
The partnership between Mandiri Capital and Investible leverages synergies between the two companies’ current strategies. This fund continues the Indonesia Impact Fund’s mandate to create greater impact by supporting the Net Zero Emissions Initiative, in collaboration with the APEC Business Advisory Council (ABAC) and UNDP to contribute significantly to Indonesia Sustainable development. The new fund will explore opportunities in key sectors identified by UNEP, such as energy, transport, buildings and cities, industry, food and agriculture, and forestry and use. lands.
Dennis Pratistha – Chief Investment Officer, Mandiri Capital Indonesia said: “We are excited to partner with Investible as it aligns with our unique strengths and shared vision for the future of climate technology. This collaboration not only highlights Mandiri Group’s commitment to Indonesia a dynamic economy and evolving ESG priorities, but also shows our commitment to researching and nurturing groundbreaking climate innovations. Our deep relationships with investors around the world Indonesia will serve as a cornerstone of this endeavor, with the aim of elevating and supporting climate technology companies on the global stage. »
A Babout Mandiri Capital Indonesia
PT Mandiri Capital Indonesia (“MCI”) is a subsidiary of Bank Mandiri, operating in the venture capital sector. MCI acts as a bridge between the Mandiri Group and startups, promoting innovation and synergy initiatives. MCI is dedicated to forming strategic partnerships to accelerate innovation within Indonesia digital ecosystem. Additionally, it invests in startups that align and synergize with the Mandiri Group’s innovation objectives. Since its inception in 2015, MCI has facilitated investments and cultivated partnerships between its portfolio and the Mandiri Group. Currently, MCI has several funds including: Balance Sheet Fund, Merah Putih Fund and Indonesia Impact Fund. Notable companies in MCI’s current portfolio include: AgriAku, Amartha, Ayoconnect, Cakap, Greenhope, iSeller, Kecilin, PrivyID, PTEN, Qoala, Sinbad and Yokke. Additionally, MCI champions startups through leading programs such as Xponent for collaboration and Zenith for acceleration.
Investable is a Asia PacificAn early-stage venture capital firm that backs visionaries who advance humanity through technology. Our mission is to connect pioneering companies with the capital, expertise and networks they need to realize their potential on a global scale.
Founded in 2014 and with offices in Sydney And Singapore, its unique approach to global early-stage technology investing sees its cross-sector and technology venture funds co-invest alongside members of the Investible Club, a syndicate and community of active global investors. The Investible portfolio includes more than 140 startups across 11 countries and 20 industries, including Canva, Ipsy, Car Next Door, Quantum Brilliance, Eden FarmApplied EV, Parcel Perform, Mize, Renewable Metals and more.