🚚🚢✈️ Tiger Fang

Corporate VC fuels Indonesian startup growth. What’s the catch? 👉 Read more: https://buff.ly/3YCkCBP - 🚀 Corporate venture capital (CVC) is vital in Indonesia's startup scene, involved in 45% of deals and providing startups resilience amid challenging climates. - 💼 Startups benefit from strong financial backing, faster funding, and ecosystem integration with CVCs, despite longer due diligence and potential restrictions. - 🔍 Successful CVC collaborations require startups to align their solutions with the parent companies’ needs, offering strategic synergies.

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PMF vs PMF. And the concept of "Project-Market Fit"… A concept that was new to me until a founder recently enlightened me. “Sorry man, we don’t have true PMF yet. We only have PMF - Project-Market Fit”, he said. Such a humble statement coming from a founder with an amazing 10M+ downloads for his open-source software, with 100’s of forks, and 6K+ Github stars. Rather than bragging about his organic growth and global adoption for his project, he referred to it as ‘merely’ Project-Market Fit. He explained: “We have users. We have adoption: downloads, forks, usage, and developer love. But we don’t have a paid-for product. So we know that people love our software. But we don’t know if we can build a true product. If customers will pay. If we can sell. We will need to prove all that before we can say we have true Product-Market Fit." He was right. And I realised this is true for many distribution-first businesses. Startups - be it open-source, or mobile, commerce or anything - that have user growth, engagement, customer love, but are still free and not monetising yet. Some of them see crazy growth and it’s easy for founders to get enamoured and over-confident. But growth through free distribution is not enough to self-proclaim “We have PMF!” And so thinking about the concept of Project-Market Fit helps to stay humble. And hungry for proving real PMF. Building a REAL product that people pay for. So you can build a REAL business. But you have to start somewhere. So start with Project-Market Fit 👊

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HR focus Key HR challenges in Indonesia’s data center sector: 1️⃣ Talent Scarcity: A limited pool of skilled IT professionals creates intense competition. HR must invest in partnerships with universities and training programs to develop a steady talent pipeline. 2️⃣ High Turnover: With tech demand surging, retaining talent is harder. Competitive salaries, clear career paths, and employee engagement programs are crucial to keeping top performers. 3️⃣ Upskilling Needs: Rapid advancements in tech require continuous learning. HR should implement ongoing training initiatives to keep teams ahead of trends like AI, cloud computing, and green energy solutions. 4️⃣ Culture Alignment: Fast growth can dilute company culture. HR leaders must ensure that values like collaboration, innovation, and inclusion are reinforced as teams expand. 5️⃣ Employee Well-being: Long hours and high-pressure environments can lead to burnout. Proactive wellness programs, flexible work arrangements, and supportive leadership can mitigate this risk. HR’s proactive strategies will be key to unlocking Indonesia’s data center potential.

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Digitalizing Indonesia’s warungs is hard - focus on rural areas helps 👉 Read more: https://lnkd.in/gvKPGbsU Exploring why many startups aiming to digitalize Indonesian 'warungs' have withdrawn or pivoted their business models. 🏚️ Many startups attempted to modernize traditional Indonesian warungs but faced issues like high operational costs and low FMCG margins. 🌐 Some companies shifted focus towards rural markets to escape saturated urban markets where traditional methods dominate. 📉 Despite some successes, such startups struggle to make substantial profits, grappling with distribution challenges and the need for localized marketing strategies.

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Summary: Indonesian venture capital firm Intudo has raised $125 million across two investment funds, with $75 million for startups and $50 million for natural resources and renewable energy investments, aiming to leverage Indonesia's strengths in consumer products and aquaculture. Key takeaways: Intudo Ventures IV will invest in Indonesian startups with a focus on consumer products, aquaculture, horticulture, and deep tech, backed by a strong location, digital advancements, and expanding middle-class population. The firm's new fund will also target investments in downstream natural resources and renewable energy, tapping into Indonesia's strong position in the global nickel and cobalt market. Intudo's small fund size and significant ownership targets set it apart from other venture capital firms in the Southeast Asian market. Counter arguments: Some may argue that focusing solely on Indonesia limits the potential for international growth and diversification. The firm's previous funds have faced criticisms for not investing enough in early-stage startups, instead focusing on later stage companies. 3.Potential risks and challenges may arise from investments in natural resources and renewable energy, which are highly competitive industries. #venturecapital #vc #startups

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🚀 We recently helped a Singapore founder slash costs by 70% and turbocharge their growth. How? By hiring a rockstar SDR from Indonesia. For B2B startups, sales is fuel for growth. And SDRs are the engine that powers any high-performing sales team. But here's the thing: the founder was hitting some serious roadblocks: ▪ Singapore talent costs were through the roof ▪ Sourcing quality candidates was eating up precious time ▪ Keeping top performers around felt like a constant battle 🔥 Enter High Five. In just 3 days, we found the Singapore founder a candidate from Indonesia who: ▪ Speaks fluent English ▪ Has experience with Apollo, Clay and HubSpot ▪ Worked in a regional B2B tech startup ▪ Owns a track record of driving six-figure sales metrics But we didn't stop there. As their Employer of Record, we're now ensuring: ▪ Legal compliance in Singapore and Indonesia ▪ Protection from costly misclassification risks ▪ Boosted employee retention and happiness Along the way, we handle all the behind-the-scenes stuff like contracts, payroll, taxes, and benefits. The founder is now free to focus on more important things like sales and marketing. ✌ The best part is we never charge the founder any exorbitant recruitment or placement fees. Does this sound like what your startup needs? If you're looking to: ▪ Bring on top-tier product, engineering, data, ops, and marketing talent in Southeast Asia ▪ Cut your headcount costs by up to 70% ▪ Stay 100% compliant every step of the way 𝐋𝐞𝐭'𝐬 𝐭𝐚𝐥𝐤. 𝐃𝐫𝐨𝐩 𝐦𝐞 𝐚 𝐃𝐌 𝐨𝐫 𝐬𝐞𝐧𝐝 𝐦𝐞 𝐚𝐧 𝐞𝐦𝐚𝐢𝐥 𝐭𝐨 𝐜𝐡𝐫𝐢𝐬@𝐡𝐢𝐠𝐡𝐟𝐢𝐯𝐞.𝐠𝐥𝐨𝐛𝐚𝐥. I'll personally walk you through the entire process. 💯 For full context: High Five helps you source, hire and pay talent in Southeast Asia - compliantly, without needing to set up a local entity. Through our global recruiting, hiring and payroll services, we enable you to look beyond your local talent pools. We can truly help you scale by building diverse, high-performing teams made up of the absolute brightest minds - no matter where in the world those people happen to be. We’re building the future of work. Let's build the future together! 🤝 #founders #singapore #indonesia #sales #startups

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🛵 GOJEK TO EXIT VIETNAM ON SEPTEMBER 16, 2024 🚀🌏 GoTo Group has announced that Gojek will end its operations in Vietnam on September 16, 2024, as part of a strategic shift towards markets with higher growth potential. Vietnam, contributing only a small portion of the company's gross transaction value, no longer aligns with GoTo’s profitability goals. During this transition, the company is committed to supporting employees, drivers, and partners. This follows similar exits by Uber in 2018 and Beamin in 2021, highlighting the competitive nature of Vietnam’s ride-hailing market. 🛵 Uber (2018): Uber exited Vietnam as part of a broader deal when it sold its Southeast Asian operations to Grab. 🛵 Beamin (2021): A food delivery platform from Korea, Beamin, left Vietnam after facing strong competition from local players like GrabFood and Now. More: https://lnkd.in/d7n37yJC #Gojek #Vietnam #RideHailing #BusinessTransformation CEL Demand Supply Alignment www.cel-consulting.com #CEL #SimCEL #Supply #Demand #Supplychain

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One of the issues the SouthEast Startup scene faces is that it sits in a region with lackluster, kind of also getting worse, IPO market: https://lnkd.in/g_Dn9ShE This chart at the end is not about the Startup scene nor is the article but Startups can't escape the fact that the region is not great for IPOs in general and Singapore, the region's epicenter for Startups, is not really even seen as a place to go public. I don't have the fix for this but I think this is one of the biggest issues that needs addressing in the ASEAN Startup ecosystem - there needs to be a regional way for late stage Startups to go public with thriving stocks for the overall ecosystem to improve. I am sure finance heads and others more deeply into this will have a counter to this and that's cool but other ecosystems do a tad better IMHO cause they have public market liquidity.

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Intudo Ventures just raised $125M to fuel Indonesian startups! Check the full story here https://lnkd.in/gZZKvnCN Intudo has successfully raised $125 million to support the growth of Indonesian startups, particularly in sectors like digital economy, health, and finance. This funding round is a major boost for local innovation, empowering entrepreneurs to scale their ventures and compete on a global stage. With a focus on supporting the next generation of high-impact companies, Intudo aims to leverage its capital to drive economic growth and create jobs within Indonesia’s startup ecosystem. Visit www.theleap.id for daily insights from across key industries, where key players connect! #IntudoVentures #IndonesiaStartups #VentureCapital #StartupFunding #DigitalEconomy

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Well he's about nailed it....Salary expectations in Indonesia tech make zero sense based on what the company's can really return as profit or to investors....Half these guys who have made millions of USD, enhanced no tech and then bailed out to foreigners then become advisers or ministers, making loads of apps now and projects using foreign companies with local big boys helping against the local content.......Nothing actually makes sense. The reality is Indonesians are not trying to make anything for national pride....The few are trying to exit and enrich themselves.... most of them are well gone...This is not US tech with Jensen suddenly becoming famous after 30 years.... Hardly any IP here and what they want is foreign money to burn....That's about it... We try make real tech to enhance the nation, but I am an evil bule and we get zero help despite creating lots of jobs locally...This is the fact.. Ppl just getting excited about a new way to pay for something in different countries.....which stopped being a problem when credit cards were invented.... and the profit is? So much noise.....little delivery... But we must keep trying... Joel Shen Hendry Setiabudi

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AC Ventures' portfolio companies—Logisly, RAENA, Soul Parking, Supermom Business, and Durianpay—had a great conversation with PT Bank Raya Indonesia Tbk., to explore opportunities for collaboration and partnerships. The group discussed how our companies could work together with Bank Raya to drive digital innovation, enhance financial inclusion, and support economic growth in Indonesia. We are excited about the potential synergies and the positive impact these alliances may create for local customers, as well as our partners and communities! #collaboration #partnership #innovation #financialinclusion #economicgrowth #digitaltransformation #startups #indonesia

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Founders, here's the best predictor of B2B startup success I've seen in Southeast Asia: owning your sales. ⤵ Many founders try to outsource sales. This is a costly mistake. At Wavemaker, we say, 'Every organization gets the results it's designed for.’ When founders avoid owning sales, they’re telling their whole team that it’s not a priority. This leads to.  → No clear target customer  → No plan to find them  → No clue how to close the deal Or an even bigger problem: building a product nobody needs. Y Combinator has a perfect term for it – SISP (“Solutions in Search of a Problem”). Founders often hate those first few sales conversations. So they try to outsource it as soon as possible. Rejection sucks. But that feedback is gold. If your solution doesn't fix a real problem, you MUST know fast. Don't outsource your early sales, especially not in Southeast Asia. Here, trust is everything, and nobody sells your vision like you. One reason this could be a bigger problem in Southeast Asia is that manpower is cheaper. Founders can more easily get reps to rely on. It might be cheaper in the short-term but you'll pay more later. The longer you own sales as a founder, the better your odds for success. Your customer feedback loop gets tighter. You'll build a product people actually want. Tough questions for founders: → Am I talking to a potential buyer every single day?  → Have I already given away sales to a hire?  → Can I forecast my pipeline accurately since I talk to the customers regularly?

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$88B by 2030 Today, we at Saison Capital are excited to publish the first deep-dive report on asset tokenization in Indonesia. In collaboration with BRI Ventures, D3 Labs and Tiger Research Inc., our report estimates that demand for asset tokenization in Indonesia could reach US$88 billion by 2030. In particular, we see Indonesia taking the lead in tokenized commodities. Indonesia’s large natural resources industry could leverage tokenization to improve capital-raising processes and enhance global competitiveness. Combined with a young population, an expanding middle class, and robust fintech and digital payment sectors, the future of asset tokenization of Indonesia has arrived Read the report at https://projectwira.id Many thanks to Abigail Hsu for driving the bulk of research, and our incredible partners - Markus Liman Rahardja / James Eugene / Chung Ying Lai / Tigran Adiwirya / Daniel Kim / Seungsik Yoon

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[Published in February 2024] 📉 Despite having the lowest market share among major Indonesian ecommerce platforms, Blibli's stock outperformed its rivals in 2023, gaining about 2.6% while others declined. 🔍 Unlike competitors GoTo and Bukalapak, Blibli's stability is attributed to 83% ownership by the reputable Djarum Group, ensuring investor confidence despite general tech market struggles. 🏢 Blibli's focus on expanding offline presence and strategic integration with its travel platform Tiket.com and supermarket chain Ranch Market is key to its push towards profitability and broader market strategy.

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📊🔍 Tech in Asia updates its list of top 50 Indonesian startups every two years. - Want full insights? Subscribe to Tech in Asia to read the entire article.

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Enhancing the Property Technology Portfolio in the Asia-Pacific, Living Lab Ventures Invests in Digital Classifieds Group, Parent Company of Lamudi We are thrilled to share that Living Lab Ventures (LLV), the corporate venture capital arm of Sinar Mas Land has become a strategic investor in DCG, the parent company of Lamudi. This investment underscores LLV’s confidence in DCG and Lamudi’s potential to drive technological advancements in the property technology sector across the Asia-Pacific region, with a strong focus on Indonesia. Partner at LLV, Bayu Seto, emphasized that this milestone reflects LLV’s belief in DCG and Lamudi’s ability to create the largest tech-based ecosystem for Indonesia’s proptech industry. This strategic move also marks LLV’s expansion into the Australian market, solidifying its position as a leader in the Asia-Pacific proptech industry. 🌏 DCG CEO, Mark Nosworthy, noting that LLV’s support validates their mission to transform the property market through technology. This collaboration will undoubtedly accelerate DCG and Lamudi’s growth and innovation, providing cutting-edge solutions to users across Southeast Asia. 🚀 Mart Polman, CEO of Lamudi Indonesia, expressed that with the backing of LLV, the company is poised to expand its operations and solidify its position as the leading real estate marketplace in Indonesia. He highlighted that this investment will enable Lamudi to further develop its platform, improve user experience, and provide unparalleled value to its customers. Lamudi has made great strides since 2014 in digitizing Indonesia’s real estate industry. With over 30,000 real estate agents empowered through their platform and partnerships with 425+ property projects, this investment will further enhance their services and user experience, driving value for all stakeholders. This landmark investment by LLV is a testament to Sinar Mas Land’s commitment to fostering innovation and growth within Indonesia’s real estate sector. We look forward to the exciting future ahead! 🏙️ #PropTech #RealEstate #Investment #AsiaPacific #Indonesia #LLV #Sinarmasland #DCG #Lamudi 📸: Lamudi Team

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posting a follow up thought on this because i think it matters: i think the undesirable outcome that Jeremy mentioned (and I agree the outcome has been undesirable) is not caused by the size of the funds or the way they have been invested in companies. I believe he is mistaking the quality of outcome for the quality of investment decisions. you can make good decisions and produce bad outcomes. the solution isn’t to go and change the decisions, but to double down in the decision making model. in the case of venture capital, the only decision making model that has worked globally is the power law. example: multiple investors invest in 100 smartest founders hoping 5 of them will become billion dollar companies and make a great return that pay off for the other 95 that didn’t. if you do that and all 100 fail, the solution isn’t to invest less, but to keep doing it again, knowing that founders become more experienced over time and knowledge transfer and network effects compound and the results improve. It is not for every LP. it is not for every fund manager. it is not for every entrepreneur or employee. But those who are in it should be comfortable the risk and reward involved. you can’t control/predict who wins, and reducing the fund sizes will just make Southeast Asia less desirable to smart talented and ambitious people. the notion that SEA has its own vibe and therefore VC laws don’t apply is exactly to say “we have given up on SEA to produce billion dollar companies, ever” and i think it’s important to at least say that explicitly. respectfully, VCs complaining about other VCs raising too much may be what LPs wanna hear in the short term but it is in effect suicidal for the startup scene. it’s not VC if it’s optimized for 2-3x return, its value investing. i don’t call that localization, i call it killing VC in SEA altogether. the craziest technological breakthrough of our lifetime is out there and the VC discourse in SEA cannot be about reducing fund sizes.

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