# ING Group: portfolio, investments and team

> ING Group is a growth equity based in Indonesia. 42 investments on record, 5 in the last 12 months, latest Sept 2026. Portfolio, stages, co-investors and team.

Source: https://millionrounds.com/fund/ing-group (Millionrounds; every figure on the page links to its filing or article)

Indonesia · [Investor](https://millionrounds.com/investors)

# ING Group

Last cheque observed Sep 2026; 42 cheques on record.

Deploying now Growth equity

Debt Venture Seed Venture Capital & Private Equity

Deploying now

**45%** of best year **5** **cheques in 12 months**, 42 on record

Since the last cheque **55** days **00** hrs **00** min **00** sec

Median round **$28M** Rounds led **0 of 42** Sole investor **13 rounds** Exits **1 from the portfolio** Mostly in **United States, 28%**

Pitch ING Group

## ING Group highlights

- 01 5 cheques in the last 12 months
- 02 Mostly Debt and Venture: 71% of its rounds
- 03 Sole investor in 13 rounds, median $10M
- 04 1 exits from the portfolio

## What they do

- **Type:** Growth equity (from a list, unverified)
- **Cheque size:** Not stated
- **Sectors:** Venture Capital & Private Equity
- **Based in:** Sidoarjo, Indonesia
- **Cold pitches:** Not stated

## The record

Every round we can evidence, newest first **42 appearances**

- **2026** 5 rounds
- **Sept** **[Birch Hill Holdings](https://millionrounds.com/company/birch-hill-holdings)** Venture · US **$6.5M** With 3 others
- **Aug** **[Flexential](https://millionrounds.com/company/flexential)** Debt · US · Ventureburn **$800M** With 10 others
- **Aug** **[Dimension Energy](https://millionrounds.com/company/dimension-energy)** Debt · US · Ventureburn **$857M** With 7 others
- **Jun** **[Nearfield Instruments](https://millionrounds.com/company/nearfield-instruments)** Series D · NL · Ventureburn **$380M** With 8 others
- **Jun** **[Aveni](https://millionrounds.com/company/aveni)** Series B · GB · Puma Growth Partners **$16M** With 6 others
- **2025** 9 rounds
- **Sept** **[Fnality](https://millionrounds.com/company/fnality)** Series C · GB · Silicon Canals **$136M** With 15 others
- **Sept** **[Glafit](https://millionrounds.com/company/glafit)** Venture · JP **Undisclosed** With 1 other
- **Sept** **[Netomnia](https://millionrounds.com/company/netomnia)** Debt · GB **$190M** With 1 other
- **Sept** **[EDP Renewables APAC](https://millionrounds.com/company/edp-renewables-apac)** Venture · SG **$23M** With 2 others
- **Jul** **[Thought Machine](https://millionrounds.com/company/thought-machine)** Venture · GB **$62M** With 5 others
- **Jul** **[Football.Fun](https://millionrounds.com/company/football-fun)** Seed · GB **$2.0M** With 2 others
- **Jul** **[Electra](https://millionrounds.com/company/electra)** Debt · FR **$333M** With 3 others
- **Jul** **[CityFibre](https://millionrounds.com/company/cityfibre)** Debt · GB **$1.3B** With 4 others
- **Jul** **[Cleantech Solar](https://millionrounds.com/company/cleantech-solar)** Debt · SG **$140M** Sole investor
- **2024** 5 rounds
- **Aug** **[Voltera](https://millionrounds.com/company/voltera)** Debt · US **$100M** Sole investor
- **Aug** **[Fibrus](https://millionrounds.com/company/fibrus)** Debt · GB **$132M** With 3 others
- **Jul** **[Ocula Technologies](https://millionrounds.com/company/ocula-technologies)** Series A · GB **$4.2M** With 1 other
- **Jul** **[Asian Bridge](https://millionrounds.com/company/asian-bridge)** Venture · JP **$6.2M** With 1 other
- **Jul** **[EIT InnoEnergy](https://millionrounds.com/company/eit-innoenergy)** Venture · NL **Undisclosed** With 1 other
- **2023** 5 rounds
- **Nov** **[Strata Clean Energy](https://millionrounds.com/company/strata-clean-energy)** Debt · US · Firms' own news pages **$300M** With 2 others
- **Aug** **[metrofibre](https://millionrounds.com/company/metrofibre)** Debt · DE **$131M** Sole investor
- **Jul** **[Cargoroo](https://millionrounds.com/company/cargoroo)** Crowdfunding · NL **$1.2M** Sole investor
- **Jul** **[Watcherr](https://millionrounds.com/company/watcherr)** Venture · BE **$2.2M** Sole investor
- **Jul** **[Earkick - AI Therapist](https://millionrounds.com/company/earkick-ai-therapist)** Seed · US **$150K** With 1 other
- **2022** 2 rounds
- **Sept** **[Exasun](https://millionrounds.com/company/exasun)** Venture · NL **$9.0M** Sole investor
- **Aug** **[TVCoins](https://millionrounds.com/company/tvcoins)** Seed · US **$10M** Sole investor
- **2021** 3 rounds
- **Sept** **[SGRecycle](https://millionrounds.com/company/sgrecycle)** Seed · SG **$1.4M** Sole investor
- **Aug** **[Betty Blocks](https://millionrounds.com/company/betty-blocks)** Venture · NL **$33M** Sole investor
- **Jul** **[hiLife Interactive Pte Ltd](https://millionrounds.com/company/hilife-interactive-pte-ltd)** Series A · SG **$5.9M** Sole investor
- **2019** 2 rounds
- **Nov** **[Ascent](https://millionrounds.com/company/ascent)** Series B · US · Fintech **$19M** With 5 others
- **Feb** **[MobieTrain](https://millionrounds.com/company/mobietrain)** BE · Siliconcanals **$1.1M** Sole investor
- **2018** 1 round
- **Jul** **[TransferMate](https://millionrounds.com/company/transfermate)** IE · FinSMEs **$25M** Sole investor
- **2017** 3 rounds
- **Aug** **[Renovate America](https://millionrounds.com/company/renovate-america)** US · FinSMEs **$40M** Sole investor
- **Jul** **[Hyperoptic](https://millionrounds.com/company/hyperoptic)** Debt · GB · FinSMEs **$132M** With 3 others
- **Jun** **[Fintonic](https://millionrounds.com/company/fintonic)** ES · FinSMEs **$28M** With 1 other
- **2015** 1 round
- **Oct** **[Kabbage](https://millionrounds.com/company/kabbage)** Series E · US **$135M** With 8 others
- **2014** 1 round
- **Nov** **[Ryckman Creek Resources](https://millionrounds.com/company/ryckman-creek-resources)** Growth · US **$110M** With 1 other
- **2012** 1 round
- **Oct** **[NGDATA](https://millionrounds.com/company/ngdata)** Seed · BE · venturebeat.com **$2.5M** With 2 others
- **2009** 1 round
- **Sept** **[Agendia](https://millionrounds.com/company/agendia)** Series E · NL · fiercebiotech.com **$23M** With 3 others
- **2008** 1 round
- **Oct** **[Avantium Technologies](https://millionrounds.com/company/avantium-technologies)** Venture · NL · equityhelpdesk.com **$18M** With 3 others

An announcement gives the size of the round, not the size of this investor's cheque: the only rounds that imply a cheque are those where they were the sole named investor.

## The team

We hold **31** people at this firm from the lists this database was built from: a weaker source than the filings, since a list does not say when a title ended. Login to see them.

## What they claim to have backed

From their own portfolio page (on their website)

**0** of 5 we have independently watched raise

Cleanlabelingredients Jmposner Louisfrancois Msk-ingredients Qode Interactive

Weaker than a round we watched, stronger than a list somebody sold us. A firm is far less willing to put a company on its own site that it never funded.

## Exits from the portfolio

Companies it backed that were later bought or listed **1 in all**

**[PayPal](https://millionrounds.com/company/paypal)** Bought by [eBay](https://millionrounds.com/fund/ebay) **$1.5B** Jul 2002

An exit counts when it came after the firm's first round in the company. From historical deal records.

## The cheque

Debt Venture Seed

Median round joined **$28M** the round, not its cheque Alone, median **$10M**

Led 0 of 42 rounds **0%**

- **Sole investor:** 13 rounds
- **Last cheque:** Sept 2026
- **Exits:** 1 from the portfolio

Rounds by stage said on their site

- Debt *11*
- Venture *11*
- Seed *5*
- Series A *2*
- Series B *2*

Cheques by month Led Joined

Nov 2023 Oct 2026

Often in the room with

- [Temasek Holdings](https://millionrounds.com/fund/temasek) 4
- [Societe Generale](https://millionrounds.com/fund/societe-generale-2) 3
- [ABN AMRO Fund](https://millionrounds.com/fund/abn-amro-clearing) 2
- [BNP Paribas](https://millionrounds.com/fund/bnp-paribas) 2
- [Bank of America](https://millionrounds.com/fund/bank-of-america) 2
- [Citibank](https://millionrounds.com/fund/citi) 2

**Pitching ING Group?** Put them on your fundraising board with this record on the card, and follow them to hear when they write a new cheque.

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## Who they invest alongside

The investors most often in the same rounds as ING Group. A count of rooms they were both in, not a relationship either has claimed.

[**Temasek Holdings** VC firm **4** rounds together](https://millionrounds.com/fund/temasek)[**Societe Generale** Corporate VC **3** rounds together](https://millionrounds.com/fund/societe-generale-2)[**ABN AMRO Fund** Corporate VC **2** rounds together](https://millionrounds.com/fund/abn-amro-clearing)[**BNP Paribas** VC firm **2** rounds together](https://millionrounds.com/fund/bnp-paribas)[**Bank of America** Company **2** rounds together](https://millionrounds.com/fund/bank-of-america)[**Citibank** Growth equity **2** rounds together](https://millionrounds.com/fund/citi)[**First Citizens Bank** VC firm **2** rounds together](https://millionrounds.com/fund/first-citizens-bank)[**Goldman Sachs** Private equity **2** rounds together](https://millionrounds.com/fund/goldman-sachs)[**MUFG Bank** Investment firm **2** rounds together](https://millionrounds.com/fund/mufg-bank)[**National Wealth Fund** Government **2** rounds together](https://millionrounds.com/fund/national-wealth-fund)

## Recently backed

The latest companies ING Group put money into.

[**Birch Hill Holdings** $6.5M · Sept 2026](https://millionrounds.com/company/birch-hill-holdings)[**Flexential** $800M · Aug 2026](https://millionrounds.com/company/flexential)[**Nearfield Instruments** $380M · Jun 2026](https://millionrounds.com/company/nearfield-instruments)[**Fnality** $136M · Sept 2025](https://millionrounds.com/company/fnality)[**Glafit** Sept 2025](https://millionrounds.com/company/glafit)[**Netomnia** $190M · Sept 2025](https://millionrounds.com/company/netomnia)

## Quick answers about ING Group

### What does ING Group invest in?

ING Group invests most often at Debt and Venture (71% of the rounds on record), in sectors such as Venture Capital & Private Equity.

### How active is ING Group?

42 investments on record, 5 of them in the last 12 months. The most recent was in Sept 2026.

### What has ING Group invested in recently?

Its most recent investments on record: Birch Hill Holdings (Venture, Sept 2026), Flexential (Debt, Aug 2026) and Dimension Energy (Debt, Aug 2026).

### How big are ING Group's cheques?

The median round it joins is $28M.

### Does ING Group lead rounds?

Rarely, if at all: none of its 42 investments on record names it as the lead.

### Where does ING Group invest?

Most of the companies it backs are in the United States (28%), the United Kingdom (23%) and the Netherlands (18%).

### Is ING Group investing now?

Yes: it is actively investing, with 5 investments in the last 12 months.

### Who does ING Group invest alongside?

Most often Temasek Holdings (4 rounds together), Societe Generale (3 rounds together) and ABN AMRO Fund (2 rounds together).

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