Deputy Minister Ibrahim Al-Nasser and Nexticorn Chairman Rudiantara. (Photo courtesy of Ministry of Communications, Information and Technology, Kingdom of Saudi Arabia)
Saudi Arabia has pledged to back later-stage startups in Indonesia through a proposed joint fund with Indonesia-focused venture capital firms as part of the Kingdom’s digital push toward a post-oil economy.
The fund was mentioned during a signing ceremony between the Center of Digital Entrepreneurship (CODE) at the Saudi Ministry of Communications and Information Technology (MCIT) and the Nexticorn Foundation held in Bali late Friday.
