OJK's Mission to Register VC Firms

Let's dive into the latest buzz from the world of Indonesian finance. Here's what happened: the Indonesian authority that keeps an eye on financial businesses (they go by the snappy name of OJK) has a new mission – they want all the venture capital (VC) firms investing in Indonesia to register there too.

Here are the important bits:

• In The Works: The big boss of multifinance, venture capital, and various other financial departments at OJK, Agusman, is right at the heart of the action.

• Plot Twist! The chairman of the Association of Indonesian Venture Capital and Startups (AMVESINDO), Eddy Danusaputro, points out that many VC firms prefer to register in Singapore because of the lower taxes. Can't really argue with saving money, can you?

• Yay or Nay? Even so, Eddy is all for the OJK's plan to get VCs registered in Indonesia. Why, you ask? Because monitoring VC activity helps to foresee any potential weak spots in the financial ecosystem.

According to AMVESINDO, in 2022, there were 54 VC firms in Indonesia with total assets of a whopping 26 trillion rupiah ($1.7 billion) - that's a 22% increase from 21.2 trillion rupiah ($21.38 billion) in 2021. Now that's an impressive growth curve!