Intudo closes debut Indonesia-focused VC fund

The firm was founded by Eddy Chan (pictured left), a Silicon Valley-based VC investor who has backed start-ups such as PayPal and SpaceX, and Patrick Yip (pictured right), formerly head of Goldman Sachs' private equity team in Indonesia. LPs in the fund include Southeast Asia corporates, founding partners at US venture capital firms, family offices, and start-up founders from the US, Taiwan, Hong Kong and Southeast Asia.

The fund will make two types of investment. First, it will co-found and back Indonesia-focused joint ventures, typically led by Southeast Asian returnees who have studied abroad or have previously worked for global internet companies. Intudo will set up legal entities in Indonesia and leverage its connections with local conglomerates, distribution partners, and government agencies.

Second, the firm will follow the strategy employed by most of its peers in Southeast Asia and invest in pure-play homegrown companies set up by local founders.

Intudo is looking to back 12-16 start-ups, focused on areas such as consumer, finance, healthcare, education, and media. It will lead seed and Series A rounds, with initial investments of $200,000 to $1.25 million. Total commitments to start-ups will be in the $1-2.5 million range.

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Save this article  
• Send to  

• Topics
• Southeast Asia
• Fundraising
• Venture
• Early-stage
• Technology
• Indonesia
• TMT
• Education
• Financial Services
• healthcare
• Venture