Fundraising Fox
Mandiri Capital Indonesia
Corporate VCJakarta · Seed–Growth · 1 people tracked
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Investment thesis
Mandiri Capital Indonesia is the corporate venture capital vehicle of Bank Mandiri, investing in and nurturing companies from early through later stages. It supports portfolio businesses with capital, mentoring, and access to the broader Mandiri Group ecosystem. Its focus areas include fintech and payments, financial services, SaaS and enterprise software, insurtech, and consumer businesses, reflecting a strong emphasis on digital financial and payment infrastructure in Indonesia. The firm also runs a Startup Accelerator program and integrates ESG initiatives across its ecosystem, pursuing social, environmental, and governance impact alongside financial returns.
Source: firm website, verified Sep 27, 2026.
Team · 1 people
from public directoriesWhat they invest in
from 17 of 25 portfolio companiesFintech ×8SaaS ×6Consumer ×3E-commerce ×3Enterprise Software ×3AgTech ×2Data & Infrastructure ×2FoodTech ×2
HQs:Indonesia×16
Who they back
founder profiles across 10 portfolio companiesFounding team size:solo founder×72 founders×23 founders×1
Where their founders studiedfrom 10 founders with education data
Institut Teknologi Bandung ×3Harvard Kennedy School ×2University of Indonesia ×2
What their founders studiedfrom 10 founders with field-of-study data
Computer Science ×5Economics ×5Business & Management ×3Finance & Accounting ×3
Where their founders worked beforefrom 10 founders with career history
Init 6 ×2
Investments · 25 tracked
founders shown can be your intro pathBy year:2023 · 22022 · 13 dated
AgriAku is a technology-enabled agricultural supplies distributor operating across Indonesia, connecting farmers and agricultural businesses with affordable inputs and materials on-demand through an integrated distribution network.
AgTechB2B MarketplacesE-commerceLogistics & Supply ChainIndonesia, ID
Irvan Kolonas(Founder)inDanny Handoko(Founder)in
Co-investorsIndogen CapitalK3 VenturesK3V VenturesTNBAuraAlpha JWC VenturesAlto Partners+5 more
Amartha is an Indonesian digital financial services platform that provides working capital financing to women-run rural micro-businesses (MSMEs) and offers impact-oriented investment products to individuals and institutions.
FintechImpact & Social GoodMarketplaces
Andi Taufan Garuda Putra(Founder)in
Co-investorsAccionLendableZ Venture CapitalBamboo Capital PartnersBEENEXTMDI Ventures
AssistX develops artificial intelligence and computer vision technologies including proprietary video compression, generative AI for document processing, and AIoT integration for sensor and asset intelligence.
AI & Machine LearningData & InfrastructureDeep TechEnterprise SoftwareIoT
Bisma Manda Samsu(CEO & Founder)inDhidik Tri Wibowo(Chief Technology Officer)inMauritz Panggabean, Ph.D(Chief Scientific Officer)
Ayoconnect is Southeast Asia's largest Open Finance API platform that enables businesses of all sizes and industries to offer financial services to their customers.
Data & InfrastructureEnterprise SoftwareFintechSaaSJakarta, ID
Co-investorsAC VenturesPatamar CapitalpeerchequeSTRIVETaurus VenturesFinch Capital
Indonesian payments and open finance API provider offering direct debit, disbursement, bill payment and virtual card services.
Chiragh Kirpalani(Founder)inJakob Rost(Founder)
Co-investorsBrama One VenturesColopl NextFinch CapitalpeerchequeAC VenturesBRI Ventures
PT Bukalapak.com Tbk operates an online shopping platform in Indonesia.
ConsumerFintechImpact & Social Good
Muhamad RasyidNugroho HerucahyonoinAchmad Zaky(Founder)inDian HaryokusumoinTeddy OetomoWillix Halimin
Co-investors500 Global500 Startups VietnamEndeavor CatalystRebright PartnersSC VenturesSpiral Ventures+3 more
Cakap is an Indonesian online learning platform offering interactive, two-way language classes in English, Mandarin, Japanese, Korean, and Indonesian taught by certified local and foreign teachers, including classes for children and corporate clients.
EdTechFuture of Work
Tomy Y.(Founder)inTomy Yunus(Founder)
Co-investorsKB InvestmentMDI Ventures
Delos Aqua farms and supplies king prawns sourced from Indonesia, positioning them as responsibly farmed seafood.
AgTechFoodTechJakarta, ID
Aris Noerhadi(Founder)Alexander Farthing(Founder)Aristya Noerhadi(Founder)Bobby Indra Gunawan(Founder)Guntur Mallarangeng(Founder)Pierre de la Grand'rive(Founder)
Co-investorsIndogen CapitaliSeedMDI VenturesMonk's Hill VenturesAlpha JWC VenturesBlue Bear Capital Partners+4 more
DORÉ by LeTAO is the Indonesian brand of LeTAO, making cakes and desserts centered on Fromage (cheese) cake for consumers celebrating and sharing with loved ones.
ConsumerDirect to ConsumerE-commerceFoodTechJakarta, ID
GoTo is an Indonesian technology group operating on-demand services (via Gojek), financial technology, and logistics across Indonesia and Singapore.
FintechLogistics & Supply ChainMobility & TransportationJakarta, ID
Hans Patuwo(CEO)Kevin Aluwi(Founder)Michaelangelo Moran(Founder)Nadiem Makarim(Founder)William Tanuwijaya(Founder)
Co-investorsAtinum Investment Co. Ltd.Insignia Ventures PartnersOpenspace VenturesPeak XV PartnersRakuten CapitalSBI Ven Capital+9 more
Greenhope develops and produces patented, certified biodegradable and bio-based materials—Oxium (biodegradable additive), Ecoplas and Naturloop (cassava-based bioplastics)—used to make garbage bags, packaging, food trays, and utensils.
Circular EconomyCleantechClimate TechNew MaterialsJakarta, ID
Sugianto Tandio(Co-Founder)Tommy Tjiptadjaja(Co-Founder)in
Tech-driven omnichannel consumer goods company, based in Singapore.
iSeller is a point-of-sale and e-commerce platform that lets businesses sell both in-store and online, with features for inventory management and accepting multiple payment types.
E-commerceRetail TechSaaSIndonesia, ID
Co-investorsAppWorks VenturesIndogen CapitalIntudo VenturesOpenspace VenturesKasikornbank
iSeller offers a cloud-based point-of-sale system and business management tools for retailers and restaurants, running on Android, iOS, and Windows devices.
FintechRetail TechSaaS
Co-investorsIntudo VenturesKasikornbankOpenspace Ventures
Enterprise SoftwareHR TechSaaS
Samiaji Prasetya Adisasmito(Founder)in
Co-investorsElevate Innovation PartnersFinch CapitalGolden Gate Ventures
Mekari is an Indonesian SaaS company offering cloud-based business software covering HR and payroll, accounting and operations, CRM and omnichannel, and custom application development.
FintechHR TechSaaS
Anthony Kosasih(Founder)Daniel Witono(Founder)Dirman Suharno(Founder)Suwandi Soh(Founder)
Co-investorsFinch CapitalEast Ventures
Digital financial services e-wallet platform initiated by Indonesian state-owned enterprises.
Co-investorsGrabMitsui & Co
Privy provides digital solutions for businesses, including digital signatures and document verification.
CybersecurityFintechSaaS
Marshall P.(Founder)in
Co-investors500 GlobalCoinbase VenturesGranite AsiaParadigmRibbit CapitalSequoia Capital
Service institution under Bank Indonesia's National Payment Gateway (GPN).
Qoala is an online insurance platform that lets consumers compare and buy insurance products, including health, life, and car insurance.
ConsumerFintechInsurTech
Harshet Lunani(Founder)Harshet Lunani Tommy Martin(Founder)Tommy Martin(Founder)
Co-investorsAppWorks VenturesIndogen CapitalMDI VenturesSTRIVEAbac Capital Manager S.G.E.I.C.,AppWorks+10 more
PT Mitra Transaksi Indonesia, a technology-based payment services provider.
Other
Tracked investments with no reachable website or further public details — typically companies that wound down, renamed, or were absorbed.
DORÉ by LeTAOGoTo GroupPTEN
Exits · 2
1 IPOs · 1 acquisitions · showing 1Jojonomicacq. by Mekari
Portfolio news
latest coverage across their companiesAmartha · finance.yahoo.com · Jun 18, 2025
Frequently asked questions
- How many investments has Mandiri Capital Indonesia made?
- Mandiri Capital Indonesia has 25 tracked investments, 2 of which have exited.
- What stage does Mandiri Capital Indonesia invest at?
- Mandiri Capital Indonesia invests at the Seed, Series A, Growth stages.
- What is Mandiri Capital Indonesia's typical check size?
- Mandiri Capital Indonesia typically writes checks of $500K – $3M.
- What sectors does Mandiri Capital Indonesia focus on?
- Mandiri Capital Indonesia focuses on B2B Marketplaces, Consumer, Enterprise Software, Fintech, InsurTech, SaaS.
- Where is Mandiri Capital Indonesia located?
- Mandiri Capital Indonesia is headquartered in Jakarta, ID.
- Who does Mandiri Capital Indonesia co-invest with?
- Mandiri Capital Indonesia most often shares deals with Finch Capital, Indogen Capital, STRIVE, among 39 tracked co-investors.
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