# VC firms based in Indonesia (2026 list) > 115 VC firms based in Indonesia, 3% active in the last 12 months. Led by Makers Fund, Alpha JWC Ventures, Convergence Ventures. Ranked by what they funded. Source: https://millionrounds.com/lists/vc-firms-based-in-indonesia (Millionrounds; every figure on the page links to its filing or article) [Investor Lists](https://millionrounds.com/lists) # VC firms based in Indonesia Updated 7 November 2026 VC firms headquartered in Indonesia. [See all 115 *→*](https://millionrounds.com/login?join=1&next=%2Fapp%2Finvestor-lists%2Fvc-firms-based-in-indonesia)The top 25 **115** investors on the list No change this week **15** cheques in 12 months *-21%* against the market **$8.1M** median round they joined *+1%* against the market median **3%** wrote a cheque in 12 months **7%** have led a round ## The Top 25 Ordered by cheques observed, never by anything anyone paid for Deploying now (3) - 1 [Makers Fund](https://millionrounds.com/fund/makers-fund) *Deploying now* VC firm · Indonesia **101** **$10M** median round **Nov 2026** last seen - 2 [Alpha JWC Ventures](https://millionrounds.com/fund/alpha-jwc) quiet VC firm · Indonesia **14** **$12M** median round **Feb 2025** last seen - 3 [Convergence Ventures](https://millionrounds.com/fund/convergence-ventures) quiet VC firm · Indonesia **12** **$1.5M** median round **Dec 2015** last seen - 4 [Venturra](https://millionrounds.com/fund/venturra) quiet VC firm · Indonesia **11** **$8.7M** median round **Sept 2019** last seen - 5 [Ideosource Venture Capital](https://millionrounds.com/fund/ideosource-venture-capital) quiet VC firm · Indonesia **10** **$3M** median round **Nov 2015** last seen - 6 [SMDV](https://millionrounds.com/fund/sinar-mas-digital-ventures) quiet VC firm · Indonesia **10** **$15M** median round **Oct 2019** last seen - 7 [Garena](https://millionrounds.com/fund/garena) quiet VC firm · Indonesia **5** **$23M** median round **Dec 2015** last seen - 8 [Init 6](https://millionrounds.com/fund/init-6) quiet VC firm · Indonesia **5** **$2.3M** median round **May 2025** last seen - 9 [Intudo Ventures](https://millionrounds.com/fund/intudo-ventures) quiet VC firm · Indonesia **5** **$4.3M** median round **Apr 2025** last seen - 10 [Agaeti Venture Capital](https://millionrounds.com/fund/agaeti-venture-capital) quiet VC firm · Indonesia **4** **$8.1M** median round **Oct 2019** last seen - 11 [Launchpad](https://millionrounds.com/fund/launchpad) quiet VC firm · Indonesia **4** **$2.9M** median round **Nov 2018** last seen - 12 [Skystar Capital](https://millionrounds.com/fund/skystar-capital) quiet VC firm · Indonesia **3** **$850K** median round **Mar 2015** last seen - 13 [Maloekoe Ventures](https://millionrounds.com/fund/maloekoe-ventures) quiet VC firm · Indonesia **2** **$5.2M** median round **Nov 2018** last seen - 14 [PT Principal Asset Management](https://millionrounds.com/fund/pt-principal-asset-management) quiet VC firm · Indonesia **2** **$66M** median round **Oct 2025** last seen - 15 [Sinar Mas Land](https://millionrounds.com/fund/sinar-mas-land) quiet VC firm · Indonesia **2** **$13M** median round **Mar 2019** last seen - 16 [AC Ventures](https://millionrounds.com/fund/acv-capital) *Deploying now* VC firm · Indonesia **1** **$12M** median round **Oct 2026** last seen - 17 [Arkana Ventures](https://millionrounds.com/fund/arkana-ventures) quiet VC firm · Indonesia **1** **$2.6M** median round **Jul 2022** last seen - 18 [Dian Swastatika Sentosa](https://millionrounds.com/fund/dian-swastatika-se) quiet VC firm · Indonesia **1** **$3.5M** median round **May 2014** last seen - 19 [Global Intermedia Ltd](https://millionrounds.com/fund/global-intermedia-ltd) quiet VC firm · Indonesia **1** **$1.5M** median round **Jan 2008** last seen - 20 [Kejora Capital](https://millionrounds.com/fund/kejora-ventures) quiet VC firm · Indonesia **1** **$30M** median round **Oct 2019** last seen - 21 [Kreatif Media Karya](https://millionrounds.com/fund/kreatif-media-karya) quiet VC firm · Indonesia **1** **-** median round **Apr 2015** last seen - 22 [Quantum Ventures](https://millionrounds.com/fund/quantum-ventures-2) *Deploying now* VC firm · Indonesia **1** **$620M** median round **Oct 2026** last seen - 23 [Stellar Kapital](https://millionrounds.com/fund/stellar-kapital) quiet VC firm · Indonesia **1** **$3M** median round **Jul 2019** last seen - 24 [Sandeep Nailwal](https://millionrounds.com/fund/sandeep-nailwal) quiet VC firm · Indonesia **1** **$8.5M** median round **Oct 2024** last seen - 25 [20/WOL](https://millionrounds.com/fund/20-wol) unknown VC firm · Indonesia **none observed** **-** median round **-** last seen **90 more on this list** All 115 are in the app, with filters for stage, sector and market. A free account shows 10 per search, Pro up to 1,000. [See the whole list *→*](https://millionrounds.com/login?join=1&next=%2Fapp%2Finvestor-lists%2Fvc-firms-based-in-indonesia) ## The Newest Cheques Rounds this list's investors joined most recently - **4** Nov **[Phaze Inc.](https://millionrounds.com/company/phaze-inc)** Seed · $8.8M *With* [Makers Fund](https://millionrounds.com/fund/makers-fund) - **28** Oct **[FuriosaAI](https://millionrounds.com/company/furiosaai)** Series D+ · $620M *With* [Quantum Ventures](https://millionrounds.com/fund/quantum-ventures-2) - **27** Oct **[Stryv](https://millionrounds.com/company/stryv)** Series B · $12M *Led by* [AC Ventures](https://millionrounds.com/fund/acv-capital) - **20** Oct **[Flow Games](https://millionrounds.com/company/flow-games)** $49M *With* [Makers Fund](https://millionrounds.com/fund/makers-fund) - **1** Jul **[Bold Games](https://millionrounds.com/company/bold-games)** Seed · $6M *With* [Makers Fund](https://millionrounds.com/fund/makers-fund) - **1** Jun **[TinyBuild](https://millionrounds.com/company/tinybuild)** Venture *With* [Makers Fund](https://millionrounds.com/fund/makers-fund) ## Stages This Year 15 rounds - Seed **33%** - Other **13%** - Series A **13%** - Series B **13%** - Venture **7%** - Other **20%** ## What They Backed Sectors, last 12 months - Gaming **9** - AI **3** - Web3 & Crypto **2** - Marketplaces **2** - Construction **1** - Big Data & Analytics **1** ## Cheques by Quarter Led Joined 8 Q1 25 7 Q2 25 1 Q3 25 3 Q4 25 6 Q1 26 4 Q2 26 1 Q3 26 4 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 VC firms based in Indonesia ### Who are the most active VC firms based in Indonesia? By cheques observed, the most active are Makers Fund, Alpha JWC Ventures, Convergence Ventures, Venturra and Ideosource Venture Capital. ### How many VC firms based in Indonesia are there? 115 are on record. 3% made an investment in the last 12 months and 7% have led a round. ### Which stages do VC firms based in Indonesia back? Of the rounds with a named stage in the last 12 months, mostly Seed (42%) and Series A (17%). ### How big are the rounds VC firms based in Indonesia join? The typical (median) round among the leading investors here is $8.1M. ### Which sectors do VC firms based in Indonesia back most? In the last 12 months, mostly Gaming, AI and Web3 & Crypto. ### Which VC firms based in Indonesia lead the most rounds? Makers Fund (4 led), Init 6 (4 led) and Venturra (2 led). ### What have VC firms based in Indonesia invested in recently? Recent rounds include Phaze Inc. (Seed, Nov 2026, with Makers Fund), FuriosaAI (Series D+, Oct 2026, with Quantum Ventures) and Stryv (Series B, Oct 2026, with AC Ventures). ### How is this list of VC 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. [How we count](https://millionrounds.com/methodology) · [Report a correction](https://millionrounds.com/corrections)