Indosat, SoftBank form $50m Indonesia VC fund
Indonesian mobile telecom operator Indosat and Japanese Softbank have launched a $50 million venture capital fund targeting Indonesian start-ups.
The fund, SB ISAT, will be managed by a team from Indosat and Softbank. It will invest in e-commerce, digital, social media and mobile financial services.
The fund is intended to allow Indosat to stay ahead of changes in the telecom and internet industry, Alexander Rusli, Indosat's CEO and president director, said in a statement.
The company will also work with Softbank to provide "commercial, infrastructure and strategic support to promising technology companies in Indonesia."
Indosat previously launched a 120-day accelerator program - IdeaBox - that provides seed funding, access to office facilitates and mentoring to start-ups.
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