AC Ventures makes first close of its $250 million fund

Oluwajuwonlo Afolabi -

AC Ventures, an Indonesia-based investment firm has made the first close of its fifth fund of $250 million, raising 65% of the fund so far, with a focus on investing in startups in Indonesia and Southeast Asia.

  • Fund V has invested in startups like SkorLife, IDEAL, and Atma among others. The firm has grown its team to 35 people and recently established Singapore and Malaysia offices.
  • AC Ventures is a technology-focused venture capital firm with up 120 investments in Indonesia and Southeast Asia. It has invested in Xendit, Carsome, Stockbit, Ula, Shipper, and Aruna among others, it claims.
  • The firm's investment is sector-agnostic. It deploys funds to sectors like fintech, logistics, e-commerce, MSME, and consumer technology, including climatetech which its Fund V will focus on.
  • It signs up to $2 million for its portfolio startups each, with the bulk of its funds set for follow-on investments. Adrian Li, co-founder and managing partner of AC Ventures says the firm is investing in the digitization of Indonesia and Southeast Asia's economy.
  • The VC firm invests in up to 30 to 35 startups per fund and 10 to 12 per year. It has attracted investments in its Fund V from LPs in Southeast Asia, North Asia, the United States, the Middle East, and Europe. It currently has over $500 million in assets under management, invested across five funds since 2012.