Early-stage venture capital firm DS/X Ventures has recruited former Indonesian communication and information technology minister Rudiantara as a strategic advisor and board member. Meanwhile, IDX-listed tech giant GoTo has named Simon Ho its new CFO.
Former minister Rudiantara joins DS/X Ventures
DS/X Ventures, an Indonesia-focused early-stage fund, has appointed Rudiantara, a former minister of communication and information technology, as a strategic advisor and board member to support its portfolio.
“I am thrilled to contribute to DS/X Ventures’ mission to nurture and invest in the trailblazers of tomorrow. Together, we will unlock new opportunities and drive technological advancements that will not only propel Indonesia forward but also make a significant impact on the global stage,” said Rudiantara in a statement.
DS/X Ventures was founded in 2023 by entrepreneurs Rama Mamuaya and Amir Karimuddin. It is part of the DailySocial Group, a tech-focused media, research, and consultancy services provider.
The firm has been raising $15 million for its maiden fund. DS/X co-founder Mamuaya told DealStreetAsia the fund is on track to securing a final close this year.
GoTo appoints Simon Ho as CFO
PT GoTo Gojek Tokopedia Tbk announced on Wednesday that it has appointed seasoned banker Simon Ho as its new CFO.
Ho, who is replacing Jacky Lo, will assume his new position on August 30 following a general meeting of shareholders on the same day.
He joins GoTo at a time when the firm is seeking to accelerate growth by reinvesting its profit back into the business and targets achieving group-adjusted EBITDA breakeven for the full year 2024.
The incoming executive has over 25 years of experience in financial management, corporate strategy, capital markets, and investor relations. Prior to joining GoTo, he was the group chief financial officer at the Philippine financial services and digital payments company Maya.
Ho was previously a CFO at China-based Tianxia Technology and FinVolution, and the managing director and head of Asian banks research at Citi.
He will be based in Indonesia to oversee all finance and investor-related functions, reporting directly to GoTo Group CEO Patrick Walujo.
GoTo’s group adjusted EBITDA loss fell 89% year on year in Q1 2024, as its gross revenue grew 18%. The firm will announce its Q2 earnings at the end of July.