The next generation of Indonesian startup founders, who have honed the skills required to operate in the archipelago from their stints at top unicorns, will emerge in the country amid the ongoing global funding winter, said Joshua Agusta, a senior executive at Vertex Ventures Southeast Asia and India.
Agusta, who joined as an executive director at the global VC firm in June this year, was previously the director of venture funds at Mandiri Capital Indonesia (MCI). At Mandiri, he set up and led the $25 million Indonesia Impact Fund, an ESG-compliant private impact fund. IIF has a target corpus of $25 million and secured its first close in the fourth quarter of last year.