AC Ventures Fund III Raises US$205 Million Investment Fund

Jakarta, TechnoBusiness ID (English Edition) ● AC Ventures, a venture capital company resulting from the merger between Agaeti Ventures and Convergence Ventures, closed AC Ventures Fund III with the acquisition of investment funds worth more than US$205 million in the form of committed capital.

Thus, AC Ventures Fund III exceeded the previously set target and brought the total asset value under management (asset under management) of venture capitalists founded by Pandu Sjahrir, Adrian Li, and Michael Soerijadji in 2019 to more than US$380 million.

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Leading global investors such as IFC and Disrupt AD participated in AC Ventures Fund III. The proceeds are then invested in the 30th pre-Series A phase of 35 startups with a total disbursement target of more than US$100 million from March 2020 until the end of this year.

Several startups that have received investment funds from AC Ventures Fund III include Shipper, Stockbit, Ula, Aruna, BukuWarung, and CoLearn who are listed as centaurs. Some of them have even come close to unicorns.

According to Adrian Li, founder and Managing Partner of AC Ventures, AC Ventures Fund III has shown strong performance with Multiple on Invested Capital 1.94 times in less than two years since its first closing.

Several startups that have received investment funds from AC Ventures Fund III.

“The founders of AC Ventures have strong and diverse experience from the US, China, and Indonesia markets. Moreover, the founders of AC Ventures also have extensive investment experience in digital business,” said Adrian.

The founders of AC Ventures have invested in the early-stage technology ecosystem in the country since 2014. That’s what led AC Ventures to become the largest early-stage venture capital company in Indonesia with a portfolio of 100 companies from all the funds they manage.

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In the last 18 months, as digital adoption has accelerated due to the pandemic, AC Ventures’ portfolio has grown rapidly and raised more than US$500 million in additional funding across portfolios with Sequoia, Tiger Global, and Prosus.●

—Purjono Agus Suhendro, TechnoBusiness ID ● Photo: AC Ventures