Indonesian VC closes 'largest' early stage Southeast Asia fund

Alpha JWC Ventures raises $433 million as it cultivates more unicorns

20211108 Alpha JWC

Jakarta-based Alpha JWC Ventures is primarily Indonesia focused but also invests in startups in other Southeast Asian countries. (Source photos by AFP/Jiji and screenshot from Alpha JWC Ventures' website) 

SHOTARO TANI, Nikkei staff writer

JAKARTA -- Indonesian venture capital company Alpha JWC Ventures has closed what it calls the "largest early-stage fund in Southeast Asia" at $433 million, it announced on Tuesday.

The VC has had three portfolio companies achieve unicorn status -- a startup valued at more than $1 billion -- this year and will be looking to replicate the feat with its new fund as the region's internet economy carries on growing despite the COVID-19 pandemic.

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