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Japan's MUFG launches $100m fund to back Indonesian startups

Megabank looks to boost Indonesian subsidiary Danamon with tech collaborations

Indonesia is second only to Singapore in number of startups produced among Southeast Asian countries.   © Reuters

TOKYO -- Mitsubishi UFJ Financial Group, Japan's largest megabank, has established a $100 million investment fund dedicated to Indonesian startups.

The group's venture capital unit MUFG Innovation Partners is managing the fund. Plans call for the vehicle to inject cash into about 15 startups.

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