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President Widodo names Wirakusumah as CEO of Indonesia SWF Indonesia President Joko Widodo Premium Indonesian President Joko Widodo has officially announced the appointment of Ridha Dm Wirakusumah as the CEO of the country’s sovereign wealth fund that is slated to have a corpus of $20 billion. Continue reading this story with a subscription to DealStreetAsia. Contact us for corporate subscriptions at subs@dealstreetasia.com. Sign up for our newsletter - The Daily Brief Opt out of receiving The Daily Brief in your inbox everyday REGISTER stories left placeholder You have one free story left this month. You have stories left placeholder free stories left this month. ....
February 14, 2021 Southeast Asia has drawn increasing interest from global venture capital (VC) firms wanting a slice of the emerging market growth story. A total of $4.08 billion was raised by nine global funds in 2020 with significant allocations for private companies in the region, a massive jump from $867 million bagged by five funds in 2019, per our latest report, SE Asia’s VC Funds: Q4 2020 Review. On the other hand, Southeast Asia’s venture capital firms suffered a significant 39% drop in fundraising at $1.96 billion in 2020, as travel restrictions in the wake of the COVID-19 pandemic and increased limited partner caution affected fundraising. Staying with data-led stories, we captured deal-making activity in Greater China where private equity and venture capital firms took a breather in January after the hectic deal flow witnessed towards the end of 2020. Chinese startups collected almost $7.5 billion in January 2021, down 17.6% from December, according to ....
Indonesia’s modest new sovereign wealth fund 12 February 2021 Author: Kyunghoon Kim, KCL Indonesia is establishing a sovereign wealth fund (SWF) in the coming weeks. While details are still lacking, it seems that the entity tentatively referred to as Lembaga Pengelola Investasi (Investment Management Authority, or LPI) will not look like an ordinary SWF. Rather than relying on commodity export earnings or balance-of-payments surpluses, the government will fund LPI through the state budget and assets. Jakarta will initially inject US$1 billion, soon followed by up to US$5 billion. Unlike many SWFs, which generally prioritise their own financial goals, LPI’s major objective will be in stimulating national development. The fund could play an important role in relieving debt-ridden SOEs from financial pressure by acquiring their infrastructure assets. This strategy will provide room for SOEs to further expand productive investment. ....
Asia Digest: Indonesia appoints members to SWF supervisory board; Hatcher+ launches new platform Photo: Nick Agus Arya/Unsplash January 27, 2021 Indonesia has appointed five members to the board that supervises its forthcoming sovereign wealth fund; while Hatcher+ announced on Wednesday that it has launched Venture As A Service Technology Platform. Indonesia appoints five members to SWF supervisory board Indonesia has officially appointed five members to the supervisory board of its sovereign wealth fund Lembaga Pengelola Investasi (LPI). Sri Mulyani Indrawati, the finance minister, will head the board that will oversee the Indonesia Investment Authority (INA). The other members are the state enterprise minister Erick Thohir, and three professionals with experience ranging from cross-border investments to corporate deals. The five were sworn in during a ceremony at the presidential palace on Wednesday. ....