Myanmar conglomerate's VC arm seeks Indonesian co-investors

UMG Idealab looks to team up with local peers to nurture AI startups

20191018 UMG Idealab logo

As many as half of UMG Idealab's investments have come from Indonesia, where it invests between $50,000 and $1 million per deal. (Website screenshot)

ARDI WIRDANA, DealStreetAsia

JAKARTA -- UMG Idealab, the venture capital arm of Myanmar trade conglomerate UMG Group, says it seeks potential co-investment opportunities with Indonesian VCs as it begins to explore investing beyond its pre-seed stage expertise.

"We are talking to fellow VCs for potential financing collaboration and also to scale up our potential," said UMG Idealab venture partner Jefry Pratama.

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