JAKARTA -- Indonesia's Merah Putih fund, set up by the government in partnership with the venture capital (VC) arms of various state-owned enterprises, plans to finalize its first close worth $300 million in the first quarter of next year, a top executive at the fund said on Tuesday.
Eddi Danusaputro, head of project management at Merah Putih, said the fund received a license from the Indonesia Financial Services Authority in July to raise capital under the official name of Dana Ventura Merah Putih Fund.
