12 key takeaways from Indonesia PE-VC Summit 2024

We concluded the fifth edition of the Indonesia PE-VC Summit, a highly oversubscribed event that saw the participation of 700+ leaders from the private capital ecosystem.

2024’s first major industry conference provided deep insights into the trajectory of Indonesia’s growth story, the funding landscape, and investable themes to watch out for.

We are delighted to bring you glimpses of the summit and its key takeaways through a series of articles that capture founder stories, deep dives into sectoral themes, LP-GP perspectives, data-led insights, and more.

Indonesia has the pull factor for investments despite challenging times

Notwithstanding the steep decline in deal-making in Southeast Asia’s largest market in 2023, investors continue to remain bullish about Indonesia’s potential and expect a bounceback in funding activity this year.

SE Asian startups told to brace for turbulent funding market ahead

Venture capital funding in Southeast Asia has plunged to levels not seen in many years in 2023, and seasoned investors expect the turbulent funding market in the region to continue this year.

Startup fundraising in SE Asia halved in 2023 to $7.96b

Private capital raised by startups in SE Asia plummeted 51% year-on-year in 2023 to $7.96 billion as macroeconomic factors weighed heavily on investor sentiment, according to the Southeast Asia Deal Review 2023 report by DealStreetAsia and multi-stage investment company Rigel Capital. The report was released at the Indonesia PE-VC Summit 2024 in Jakarta on January 25.

Startups may have been ‘whiplashed’ too quickly from growth to profitability mode

The market correction in the past couple of years led to a sharp mindset change within the SE Asian tech startup community but some industry players believe the expectation to shift gears for consumer startups may have been too sudden and too much.

‘TikTok has saved Tokopedia from the fierce competition in Indonesian e-commerce’

A month after Bytedance-owned TikTok acquired a 75% stake in Tokopedia, the e-commerce arm of IDX-listed GoTo, the Indonesian tech giant’s chief Patrick Walujo opened up about the rationale behind the deal.

Indonesia’s INA open to more co-investments with global players, says vice-minister

Speaking at our summit, Indonesia’s vice minister for state-owned enterprises, Kartika Wirjoatmodjo, said that the country’s sovereign wealth fund INA is open to more collaborations, including co-investments, with private investors at home and abroad.

Indonesia’s vice minister for state-owned enterprises Kartika Wirjoatmodjo speaks at the Indonesia PE-VC Summit 2024.

LPs shifting focus to mid-sized funds in SE Asia amid China’s capital slowdown

Limited partners (LPs) are increasingly turning their attention towards mid-sized funds in Southeast Asia as the capital flow in China slowly starts to dry up.

AI has created more investable startups in SE Asia, say VC investors

Southeast Asia will continue to see the proliferation of artificial intelligence (AI) as the region is still at the start of the J-curve.

‘Agritech, aquatech startups must focus on the basics, complex technologies can wait’

Despite the strong flow of funding into Indonesian agritech and aquatech startups in the past few years, investors and top executives in the sector advise against rushing ahead with technology adoption.

Indonesia’s global EV hub ambitions hinge on localisation and collaboration

Indonesia’s ambition to emerge as a prominent global production hub for electric vehicles [EV] is heavily reliant on efforts to advance local production and collaboration among various stakeholders.

Fewer investible businesses, lack of measurability hindering capital flow into climate adaptation
With the private sector stepping up its role in the mission towards achieving net-zero emissions, how investors and businesses can keep the balance between financial stability and impact purposes has become a more frequently asked question.

Regulation crucial for fintech innovation and financial inclusion in Indonesia
Regulation and collaboration between regulators and the private space are crucial elements for innovation and financial inclusion in Indonesia, key players in the country’s growing fintech space said.