Discovery Nusantara Capital (DNC), an investment firm under China-based Hangzhou Zhexin IT Co., Ltd. (Zhexin IT), has announced a US$10 million fund to invest in the Southeast Asian gaming industry, with a particular focus on Indonesian companies.
Zhexin IT itself is a subsidiary of Zhejiang Jinke Entertainment Culture Co., Ltd., which recently announced a joint venture between DNC and Project Discovery Ltd and Qomolangma Ltd.
“Zhexin IT started as a game company in 2010 with only four employees, which has grown into a company with 260 employees and a US$4 billion capitalisation,” said Irene Umar of DNC, as reported by DailySocial.
“When we look at the Indonesian market, we see many players that are just like the way we were in 2010,” she explained. “So we would like to help these players grow–not only by giving funds, but also by transferring accumulated knowledge, experience, and resources for fellow gaming industry players. Through DNC, we want to create a positive impact in Indonesian gaming industry.”
Umar also clarified that the US$10 million capital is considered an initial fund, and the company will add more if “everything works according to plan.”
Apart from being sector-agnostic, DNC also does not set a pre-determined amount of investment for each startup.
“We will not be putting a ‘price tag’ on a startup before we have a clear idea on what the founders want to do and how they intend to do it. Every company is unique and deserves its own special attention,” Umar said.
She also hinted that DNC had invested in a gaming startup and is currently in the process of finalising another one, although she declined to reveal the startups’ identities and the investment amount.
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