Adrian Li (left) together with Donald Wihardja (right) of Convergence Accel.
Last calendar week Jakarta’s newest venture working capital missive of the alphabet firm Convergence Accel announced its first investment in Female Daily Network; a US$1 1000000 circular round down led yesteryear seasoned Indonesian VC Ideosource.
While Convergence Accel is build novel to Indonesia’s startup scene, its founder together with managing partner Adrian Li has been inwards Djakarta since June 2013. An ex-Rocket Internet managing director, Li is too the co-founder of Qraved, 1 of Jakarta’s well-known foodtech startups. Donald Wihardja, Li’s partner at Convergence Accel, is the onetime province manager together with principal information officeholder of 2c2p, 1 of Southeast Asia’s biggest players for ecommerce payment solutions. Wihardja is too the onetime caput of the Indonesian Ecommerce Association.
“I ever wanted to start a VC,” says Li. “The strongest motivation for me was that I ever believed inwards the sentiment of empowering entrepreneurs. For Donald, he’s too long been excited most this. He’s been inwards Indonesia’s tech trouble organization longer than most people, together with and hence nosotros decided to lay together our costless skillsets together with networks.”
Helping local startups make serial A
Currently, Convergence Accel’s fund has around US$25 1000000 laid upwardly to live on spent on Indonesian startups. Apart from Indonesia’s Bakrie Group, which is making strong moves into the archipelago’s tech space, Li didn’t break the identities of Convergence Accel’s backers or their amounts contributed to the fund. He did mention, however, that the fund is silent opened upwardly for investment simply that he doesn’t desire to allow it tumble out US$30 1000000 inwards total.
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