Launching Company Builder in Indonesia
Mountain Partners launches ideabox Ventures as a joint venture with Indosat Ooredoo and Kejora to build Indonesia’s next generation of digital companies.
Ideabox was initiated in 2013. Since then, it has become one of the top technology accelerators in Indonesia with a yearly accelerator program and a track record of seed investments in 15 successful startups. Ideabox has received prestigious awards, such as GTB (Global Telco Business), Asian Communication Awards and Stevie Awards. With the creation of ideabox Ventures, Mountain Partners, Indosat Ooredoo and Kejora are now coming together to take their cooperation to the next level – a joint venture which will move beyond seed funding to make investments of up to USD 500,000.
Ideabox Ventures will invest in early-stage or pre-series A technology companies with proven traction in Indonesia – particularly in e-commerce & web services, digital payments & fintech, and technology & security. In addition to funding of up to USD 500,000, ideabox Ventures will provide strategic and commercial advisory, and other support, to help companies grow their portfolio and further expand in the region.
Dr. Cornelius Boersch, Founder and Executive Chairman at Mountain Partners is excited about the new joint venture: “Indonesia is an important country in Mountain Partners’ expansion strategy and our central pillar in Southeast Asia. Having established our central hub for Southeast Asia in Jakarta, we have successfully built companies in Indonesia’s high-growth market for the last years. With Indosat Ooredoo, we have built 15 companies over the last three years and, after these previous successes, we are confident and proud to now foster our partnership in this new joint venture. We are looking forward to combining our strengths, to continue our successful partnership, to continue investing into the Indonesian digital ecosystem and to contribute to the wider Mountain Partners’ vision.”
Alexander Rusli, CEO and President Director of PT. Indosat, Tbk., is looking forward to taking the relationship with Mountain Partners to the next level: “We are moving ahead with our commitment to building Indonesia’s digital industry. Our three years of investing in Indonesia-focused startups through ideabox showed us that there is a gap in the Indonesian VC scene – a lot of startups struggle to find sources for post-seed funding. Ideabox Ventures will fill this gap, and allow us to help build startups into viable businesses”, said Rusli.