Indonesia’s Merah Putih fund, set up by the government in partnership with the venture arms of various state-owned enterprises, plans to finalise its first close worth $300 million in Q1 next year, said a top executive of the fund on Tuesday.
Eddi Danusaputro, head of project management at Merah Putih, added that the fund has received a licence, from the Indonesia Financial Services Authority (OJK) in July 2022, to raise capital under the official name Dana Ventura Merah Putih Fund.