Convergence Accel, a vc firm focused on backing Indonesia-based early-stage tech startups, launched a $25m fund.
The vehicle will invest in 25 to 30 companies over the next five years.
Led by partners Adrian Li and Donald Wihardja, Convergence Accel will primarily seek to invest up to US$500K into early stage technology companies based in Indonesia and reserve follow on funding for successful ventures.
The fund may also invest in later stage ventures from other regions that identify Indonesia expansion as a strategic focus.
“Bob” Xu Xiao Ping, Founder of Zhen Fund, is an advisor to Convergence Accel.