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AC Ventures is a venture capital firm established in 2020 through the merger of Agaeti Ventures and Convergence Ventures. The firm is headquartered in Jakarta, Indonesia, and is led by founder Adrian Li. AC Ventures focuses on early-stage technology-enabled businesses across Southeast Asia, particularly in Indonesia, managing over $500 million in assets across five funds. The firm has made over 120 investments, including two unicorns, Xendit and Carsome, and has created more than 30,000 jobs in the region.
Since its inception, AC Ventures has evolved to address the needs of Indonesia's 64 million micro, small, and medium enterprises (MSMEs). The firm has a strong emphasis on profitable bootstrapped companies with solid unit economics. Notable milestones include the successful exits of portfolio companies like Moka and Fore Coffee, showcasing the firm's ability to identify and nurture high-potential startups.
AC Ventures invests in a diverse range of sectors, including fintech, e-commerce, healthcare, logistics, food-agtech, climate tech, consumer products, edtech, and HR tech. The firm targets companies at various stages, from seed to Series B and growth equity, with check sizes ranging from $2 million to $30 million. Fund V, with a size of $210 million, particularly emphasizes investments in fintech, e-commerce, health tech, and climate tech.
The investment thesis centers on supporting tech-enabled businesses that drive economic, environmental, and social impact. AC Ventures seeks out founders who demonstrate strong leadership and a commitment to addressing the challenges faced by Indonesia's MSMEs. The firm employs a founder-first approach, providing hands-on operational support in areas such as go-to-market strategies, finance, operations, customer experience, and technology.
AC Ventures has built a substantial portfolio of over 120 companies, with notable investments including:
These companies reflect AC Ventures' commitment to investing in high-growth, tech-enabled businesses that address significant market needs.
Adrian Li: Founder & Managing Partner. Adrian has extensive experience in venture capital and entrepreneurship, having previously co-founded Convergence Ventures. He focuses on identifying high-potential startups in Southeast Asia.
Michael Soerijadji: Co-Founder & Managing Partner. Michael has a strong background in investment management and has led numerous successful investments in the region.
Natasha Johana: Operations Executive & Personal Assistant. Natasha supports the operational aspects of the firm and assists in managing day-to-day activities.
Lee Chao Wee: Investment Associate. Lee is involved in sourcing and evaluating potential investment opportunities, contributing to the firm's growth strategy.
Justine Miurina: HR Operations Manager. Justine oversees human resources and operational support, ensuring the firm maintains a strong team culture.
To pitch to AC Ventures, founders should use the submission form available at https://acv.vc/pitch. The pitch deck should include a clear overview of the business model, market opportunity, competitive landscape, and financial projections. AC Ventures prefers concise and well-structured presentations that effectively communicate the startup's value proposition.
Founders can also reach out via email at info@acv.vc for additional inquiries. Response times may vary, but founders should expect to hear back within a few weeks after submission.
On April 1, 2025, AC Ventures made its latest investment, continuing its active engagement in the Southeast Asian startup ecosystem. In the past 12 months, the firm has completed 14 investments across various sectors, reinforcing its commitment to supporting high-growth technology companies.
AC Ventures has also reported significant milestones, including the creation of over 30,000 jobs and the impact on 7.5 million lives through its portfolio companies. The firm is expanding its focus into growth equity in 2025, aiming to support later-stage companies in addition to its early-stage investments.
What are AC Ventures' investment criteria?
AC Ventures focuses on early-stage technology-enabled businesses in Southeast Asia, particularly in sectors like fintech, e-commerce, healthcare, and climate tech. They prefer companies with strong unit economics and a clear path to profitability.
How can founders apply or pitch to AC Ventures?
Founders can pitch their ideas through the submission form available on the AC Ventures website at https://acv.vc/pitch. They also accept pitches via email at info@acv.vc.
What makes AC Ventures different from other VC firms?
AC Ventures emphasizes a founder-first approach, providing hands-on operational support in various areas such as go-to-market strategies, finance, and technology. Their deep understanding of the Indonesian market and focus on MSMEs set them apart.
What is the geographic scope of AC Ventures' investments?
The firm primarily invests in Indonesia and the broader Southeast Asian region, targeting high-growth opportunities within these markets.
What is the typical fund size and check size for AC Ventures?
AC Ventures manages over $500 million in assets, with Fund V specifically sized at $210 million. The firm typically invests between $2 million and $30 million per deal.
What kind of post-investment involvement does AC Ventures have?
AC Ventures provides ongoing operational support to its portfolio companies, assisting with go-to-market strategies, financial management, and technology development to help them scale effectively.
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