Indonesia’s Merah Putih Fund will start investing in startups soon after finalising its first close of $300 million, which is expected next month, Eddi Danusaputro, head of project management at the fund told DealStreetAsia.
The Merah Putih Fund, set up by the Indonesian government in partnership with the venture arms of the country’s various state-owned enterprises (SOEs), has the potential to ease some of the pain of startups looking to raise capital amid the ongoing funding winter.