Intudo Ventures, a Jakarta, Indonesia-based venture capital firm, closed its maiden fund, at over US$10m.
Limited partners in Intudo Ventures I, LP, include founding general partners at leading venture capital firms, corporate investors and top-tier family offices and founders from the United States, Indonesia, Hong Kong, Taiwan and Singapore.
Led by founding partners Eddy Chan (based in Silicon Valley) and Patrick Yip (based in Indonesia), Intudo Ventures focuses on investing in early-stage companies capitalizing on the rapid growth of private consumption in the Indonesian market.
The firm is advised by founding advisor Timothy Chen (based in China, Hong Kong and Taiwan).
The fund will back early-stage companies led by best-in-class “S.E.A. Turtle” returnee and local founders in the consumer, finance, healthcare, education and media sectors and intends to build a concentrated portfolio of 12-16 companies by:
(1) co-founding and investing in joint-ventures bringing breakout companies from Silicon Valley, China, Hong Kong, Taiwan, Singapore and other overseas markets to Indonesia; and
(2) co-founding and investing in homegrown companies focused on the Indonesian market.