# PE firms based in Indonesia (2026 list) > 16 PE firms based in Indonesia, 6% active in the last 12 months. Led by ING Group, Prairie Gold, STAR Capital. Ranked by what they funded. Source: https://millionrounds.com/lists/pe-firms-based-in-indonesia (Millionrounds; every figure on the page links to its filing or article) [Investor Lists](https://millionrounds.com/lists) # PE firms based in Indonesia Updated 7 November 2026 PE firms headquartered in Indonesia. [See all 16 *→*](https://millionrounds.com/login?join=1&next=%2Fapp%2Finvestor-lists%2Fpe-firms-based-in-indonesia)The top 16 **16** investors on the list No change this week **8** cheques in 12 months Too few cheques to tell **$11M** median round they joined *+34%* against the market median **6%** wrote a cheque in 12 months **0%** have led a round ## The Top 16 Ordered by cheques observed, never by anything anyone paid for Deploying now (1) - 1 [ING Group](https://millionrounds.com/fund/ing-group) *Deploying now* Growth equity · Indonesia **45** **$37M** median round **Oct 2026** last seen - 2 [Prairie Gold](https://millionrounds.com/fund/prairie-gold) quiet Growth equity · Indonesia **1** **$11M** median round **Aug 2015** last seen - 3 [STAR Capital](https://millionrounds.com/fund/star-capital-2) quiet Private equity · Indonesia **1** **$3.3M** median round **Dec 2014** last seen - 4 [Adivira Capital](https://millionrounds.com/fund/adivira-capital) unknown Private equity · Indonesia **none observed** **-** median round **-** last seen - 5 [Alphamomentum](https://millionrounds.com/fund/alpha-momentum) unknown Private equity · Indonesia **none observed** **-** median round **-** last seen - 6 [BXI Capital](https://millionrounds.com/fund/bxi-capital) unknown Private equity · Indonesia **none observed** **-** median round **-** last seen - 7 [Capsquare Asia Partners](https://millionrounds.com/fund/capsquare-asia-partners) unknown Private equity · Indonesia **none observed** **-** median round **-** last seen - 8 [Gelagah Capital](https://millionrounds.com/fund/gelagah-capital) unknown Private equity · Indonesia **none observed** **-** median round **-** last seen - 9 [Icehouse](https://millionrounds.com/fund/icehouse) unknown Growth equity · Indonesia **none observed** **-** median round **-** last seen - 10 [InvestIdea](https://millionrounds.com/fund/investidea) unknown Private equity · Indonesia **none observed** **-** median round **-** last seen - 11 [Lightstein Indonesia Kapital](https://millionrounds.com/fund/lightstein-indonesia-kapital) unknown Private equity · Indonesia **none observed** **-** median round **-** last seen - 12 [Maleo Private Equity](https://millionrounds.com/fund/maleo-private-equity) unknown Private equity · Indonesia **none observed** **-** median round **-** last seen - 13 [PT Jayatama Tekno Sejahtera](https://millionrounds.com/fund/pt-jayatama-tekno-sejahtera) unknown Private equity · Indonesia **none observed** **-** median round **-** last seen - 14 [PT Saratoga Investama Sedaya Tbk](https://millionrounds.com/fund/pt-saratoga-investama-sedaya-tbk) unknown Private equity · Indonesia **none observed** **-** median round **-** last seen - 15 [Synergize Capital](https://millionrounds.com/fund/synergize-capital) unknown Private equity · Indonesia **none observed** **-** median round **-** last seen - 16 [Tugunet](https://millionrounds.com/fund/tugunet) unknown Private equity · Indonesia **none observed** **-** median round **-** last seen ## The Newest Cheques Rounds this list's investors joined most recently - **30** Oct **[Neoen](https://millionrounds.com/company/neoen)** Debt · $1.3B *With* [ING Group](https://millionrounds.com/fund/ing-group) - **26** Oct **[Giga Storage](https://millionrounds.com/company/giga-storage)** Debt · $291M *With* [ING Group](https://millionrounds.com/fund/ing-group) - **26** Oct **[Akaysha Energy](https://millionrounds.com/company/akaysha-energy)** Debt · $1.2B *With* [ING Group](https://millionrounds.com/fund/ing-group) - **1** Sept **[Birch Hill Holdings](https://millionrounds.com/company/birch-hill-holdings)** Venture · $6.5M *With* [ING Group](https://millionrounds.com/fund/ing-group) - **18** Aug **[Flexential](https://millionrounds.com/company/flexential)** Debt · $800M *With* [ING Group](https://millionrounds.com/fund/ing-group) - **17** Aug **[Dimension Energy](https://millionrounds.com/company/dimension-energy)** Debt · $857M *With* [ING Group](https://millionrounds.com/fund/ing-group) ## Stages This Year 8 rounds - Debt **63%** - Series B **13%** - Series D+ **13%** - Venture **13%** ## What They Backed Sectors, last 12 months - Energy **4** - Asset Management **2** - Cleantech **2** - AI **2** - Cloud **1** - Big Data & Analytics **1** ## Cheques by Quarter Led Joined Q1 25 Q2 25 9 Q3 25 Q4 25 Q1 26 2 Q2 26 3 Q3 26 3 Q4 26 The last bar is the quarter still running. ## Lists Like This - [VC firms based in United States 25,936](https://millionrounds.com/lists/vc-firms-based-in-united-states) - [PE firms based in United States 19,904](https://millionrounds.com/lists/pe-firms-based-in-united-states) - [VC firms based in United Kingdom 2,451](https://millionrounds.com/lists/vc-firms-based-in-united-kingdom) - [VC firms based in China 1,473](https://millionrounds.com/lists/vc-firms-based-in-china) - [VC firms based in India 1,309](https://millionrounds.com/lists/vc-firms-based-in-india) - [VC firms based in Canada 1,211](https://millionrounds.com/lists/vc-firms-based-in-canada) - [VC firms based in Germany 1,186](https://millionrounds.com/lists/vc-firms-based-in-germany) - [PE firms based in United Kingdom 974](https://millionrounds.com/lists/pe-firms-based-in-united-kingdom) - [Incubators and accelerators based in United States 828](https://millionrounds.com/lists/incubators-accelerators-based-in-united-states) [All investor lists *→*](https://millionrounds.com/lists) ## Quick answers about PE firms based in Indonesia ### Who are the most active PE firms based in Indonesia? By cheques observed, the most active are ING Group, Prairie Gold, STAR Capital, Adivira Capital and Alphamomentum. ### How many PE firms based in Indonesia are there? 16 are on record. 6% made an investment in the last 12 months. ### Which stages do PE firms based in Indonesia back? Of the rounds with a named stage in the last 12 months, mostly Debt (71%) and Series B (14%). ### Which sectors do PE firms based in Indonesia back most? In the last 12 months, mostly Energy, Asset Management and Cleantech. ### What have PE firms based in Indonesia invested in recently? Recent rounds include Neoen (Debt, Oct 2026, with ING Group), Giga Storage (Debt, Oct 2026, with ING Group) and Akaysha Energy (Debt, Oct 2026, with ING Group). ### How is this list of PE firms based in Indonesia ranked? By cheques observed, from the rounds and filings we watched, and never by anything anyone paid for. It is rebuilt every night. Built from the rounds we watched, refreshed every night. 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