Twelve venture capital (VC) firms operating in Indonesia today announced the formation of Indonesian Venture Capital and Startup Association (Amvesindo) in Jakarta.

The 12 VC firms involved are Alpha JWC Ventures, Convergence Ventures, CyberAgent Ventures, East Ventures, Fenox Venture Capital, Ideosource, Kejora Ventures, MDI Ventures, Skystar Capital, SMDV, Sovereign’s Capital, and Venturra Capital.

Apart from becoming a forum for VC firms to gather, the association also aims to help the government and the Financial Service Authority (OJK) in setting up regulations and programmes.

Convergence Ventures’ Donald Wihardja, who will be serving as Deputy Chairman of Amvesindo, said in an official statement that the association is currently working on a new scheme with OJK that will help local and international VC firms channel funds to Indonesian startups.

“It is expected that 20 per cent of IDR1-2 trillion (US$74-148 million) of fund from the amnesty programme can be channeled to tech startups through the PMV Tech Startup scheme,” he said.

Also Read: Indonesia launches association for fintech service

The following is the association’s organisational structure:

Board of Executives

Chairman: Jefri R Sirait
Deputy Chairman I: Punjul Prabowo
Deputy Chairman II: Donald Wihardja
Deputy Chairman III: Teguh Basuki Ari Wibowo
Secretary General: Sebastian Togelang
Under Secretary General : Ir. Rimawan Yasin MM
Treasurer: Edward Ismawan Chamdani

Board of Trustees

Chairman: Iwan Ridwan
Member: Willson Cuaca
Member: Ibnu Hajar Ulinnuha

Image Credit: Nicholas Swanson on Unsplash