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News  29, Aug 2013

8 VCs team up to form the Alliance of Venture Capitals in Indonesia


Eight top venture capitalists and incubators in Indonesia has just joined forces to establish AVCII, the Alliance of Venture Capitals in Indonesia.

Founded by eight Cyber Agent Ventures, East Ventures, GEPI, Grupara Inc, Ideosource, Jakarta Founders Institute, Merah Putih Incubator, and Mountain Indonesia, AVCII stands for Alliance for Venture Capitals in Indonesia.

Other than helping the venture capitalists gather intelligence about startups, AVCII will also be organizing workshops to educate more entrepreneurs about investments in Indonesia and scalability.

According to the press release, “this will encourage more entrepreneurs to start creating something, because now they will know there are such institutions like venture capitals to support the idea.”

On top of that, partnerships between the newly setup AVCII and the various government and regulatory institutions are also in the works.

One of the main motivations behind forming the alliance is to represent the voice of the various venture capitalists and tech industry stakeholders in the case of non-startup friendly regulations being passed by the Indonesian government. Recently, there was a huge discussion among the Indonesian startup community following Indonesia’s Secretary General of the Ministry of Trade interest in potentially forbidding e-commerce businesses from receiving foreign investment or having foreign ownership to be applied to e-commerce businesses. Grupara Inc’s Aryo Ariotedjo said:

 “We know that the VC industry is too small to reason with government’s new policies or laws, but at least having an alliance is better than have nothing to represent with.”

AVCII is currently welcoming more members to join the alliance, whether you are local or foreign based. AVCII is currently situated in GEPI’s Co-Working Space (Ciputra World), where most of the events will happen.

Read more: Putting money in Indonesia is no nightmare for foreign investors

Featured Image Credit: Jones Lang LaSalle

Jacky Yap

Jacky Yap

Having spent one year abroad in Shanghai under the NUS Overseas College Programme, Jacky has an avid interest in entrepreneurship and web based startups. Jacky used to run N-House, Singapore's first entrepreneurial themed residence in NUS, and was also part of the organizing team for Startup Weekend Singapore 2012. You can reach him at jacky [at] e27 [dot] co

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