Gobi launches $10m Indonesia early-stage fund

The vehicle, named the Gobi-Agung Fund, will invest up to $1 million at a time in Indonesian start-ups that have the potential for regional expansion. Arya Masagung (pictured), a local entrepreneur who recently joined Gobi as a venture partner, will manage the fund. The first investment has already been made in freelancing platform Fastwork.

“Given Gobi’s experience as a regional player, we are in a unique position to be a bridge for start-ups in the region,” said Masagung in a statement. “By investing in both inbound and outbound companies, we will be able to utilize our regional ecosystem to its utmost potential in creating value for these companies and ride the waves of Indonesia’s emerging economy.”

The Gobi-Agung Fund joins the recently launched Gobi-Core Philippine Fund, a Philippines-focused vehicle jointly managed by Gobi and Manila-based VC firm Core Capital. Both serve as discovery vehicles for Gobi’s Meranti ASEAN Growth Fund, which launched in April 2017 with a target of $200 million and reached a first close of $50 million the same year.

Gobi also invests in Southeast Asia through Gobi Fund III and the Gobi Mavcap ASEAN SuperSeed Fund, launched in 2016 in partnership with Malaysia Venture Capital Management (Mavcap) to make seed-stage investments in the region. The GP strengthened its ASEAN team in June with the appointment of regional COO Dan Chong, along with recruiting Khairul Khairi and Shannon Kalayanamitr as partners respectively for the Meranti Fund and Gobi’s upcoming Thailand fund.

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• Topics
• Southeast Asia
• Venture
• Fundraising
• GPs
• Early-stage
• Indonesia
• Gobi Partners