BNI Ventures, the newest among the corporate venture capital (CVC) arms of Indonesian state-owned lenders, has identified the Series A stage as its investment sweet spot, according to a top executive.
The CVC arm of Bank Negara Indonesia (BNI) was legalised in April this year under the official name PT BNI Modal Ventura. In June, BNI injected 500 billion rupiah ($33.6 million) into the entity.