Jakarta, 14/3/19 (SOLUSSInews) – Venture capital firm Venturra Capital announced the launch of its new seed investment arm Venturra Discovery on Wednesday in South Jakarta.
Backed by Indonesian conglomerate Lippo Group, Venturra Discovery prepares US$15 million to invest in seed to pre-Series A stage startups, with a check size that varies between US$200,000 to US$500,000.
The fund will be channeled to 30 to 40 startups in the Southeast Asia region.
Venturra Discovery Partner Raditya Pramana explained that though the firm tends to be sector-agnostic, it will also focus on some themes depending on the trends that year.
“Each year we will get together and brainstorm, what are the next big things? So if there are entrepreneurs that want to solve a problem where we think there is a big opportunity, we already understand it and know how to help them,” he said.
High value, mega deals
Venturra Discovery was founded with the goal to fill in the “new gap” in the Indonesian and Southeast Asian startup investment landscape.
In his presentation, Pramana explained that though funding landscape in Southeast Asia is reaching a record high of 180 per cent increase between 2013 and 2017, most of the investments are going to “high value, mega deals” at companies such as Grab, Go-Jek, Tokopedia, Traveloka, Lazada, and Bukalapak.
In 2014, the trend was for venture capital (VC) to invest between US$50,000 and US$500,000 in seed stage startups, creating a funding gap for startups in later stages.
ut today, as more VCs invest in later stage deals, the funding gap lies in early stage investment instead, Pramana explained.
“We want to fill in this gap by launching Venturra Discovery,” he said.
Launched in 2015 by John Riady, Rudy Ramawy, and Stefan Jung as a reincarnation of Lippo Digital Ventures, Venturra Capital has invested in 22 companies in five Southeast Asian countries.
The Jakarta-based firm’s leading portfolio companies include iPrice, Carro, Kaodim, Zilingo, Fave, HappyFresh, Luno, Grab, Antler, Fabelio, and BrideStory. Thats according to venturecanvas, dealstreetasia, dan e27.co. (S-VC/DS/EC/jr)