MDI Ventures launches $200m fund to invest in early stage startups

MDI Ventures has an exciting new venture called the Ascent Fund III. It is fueled by a $200M to fund the tech startup environment in Indonesia and Southeast Asia to be managed by Ascent Venture Group.

• Objective: To invest in 25 tech-enabled, early-stage startups within the upcoming two years.

• Investment Sectors: They plan to target areas of MSME enablers, financial services digitalization, and neo-consumer sectors with a focus on climate and healthcare.

• Background: Ascent Venture Group, or simply Ascent, has a team of four partners, 10 investment professionals, and support teams spread across Jakarta, Singapore, and Seoul.

• Backers and Partners: Ascent has backing from sovereign wealth funds, institutional investors, family offices, and corporations such as South Korea’s KB Investment.

• Track Record: Ascent Fund III follows in the footsteps of Arise and Centauri funds that had invested in 30 companies, with 70% of them raising follow-on funding, leading to two M&As and one IPO.

Ascent's managing partners are Aldi Adrian Hartanto, Hans De Back, Kenneth Li, and Eric (Jung Ho) Yoo to represent South Korea's KB Investment.