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Intudo is a venture capital firm founded in June 2017, making it the first Indonesia-dedicated VC firm. Based in Jakarta, Indonesia, the firm focuses on investing in both Indonesia and Silicon Valley. Intudo aims to leverage local insights and networks to support its portfolio companies, identifying and backing non-consensus overlooked companies, emerging leaders, and category winners across various sectors.
As of now, Intudo manages over $350 million in assets under management (AUM) across multiple funds. The firm has successfully raised four funds, with Fund I starting at $10 million, Fund II at $50 million, Fund III at $115 million, and the latest Fund IV closing at $75 million in November 2024. Notable limited partners (LPs) include prominent Indonesian conglomerates, family offices, and global funds, enhancing the firm's investment capabilities.
Intudo's notable milestones include its rapid growth in the Indonesian venture capital scene and its commitment to supporting startups at various stages, from pre-seed to Series A. The firm has established a reputation for its deep understanding of the local market and its ability to navigate regulatory landscapes, making it a valuable partner for startups in Indonesia.
Intudo invests across a diverse range of sectors, including agtech, edtech, fintech, healthcare, logistics, media, proptech, consumer, energy, and web3. The firm targets startups at various stages of development, specifically pre-seed, seed, seed-plus (extension), and Series A. Typical check sizes range from $1 million to $10 million, with investments in Series A typically falling between $3 million and $5 million for 20% to 30% equity stakes.
The firm emphasizes its strategy of identifying non-consensus overlooked companies and emerging leaders, aiming to take lead positions in almost every company it backs. Intudo's investment thesis focuses on moat-driven businesses that leverage unfair advantages in commercial distribution, regulatory navigation, and deep technology specializations. This unique approach allows Intudo to provide significant support to its portfolio companies, enhancing their growth potential in the competitive Indonesian market.
Intudo's portfolio includes several notable companies across various sectors:
This diverse portfolio reflects Intudo's commitment to supporting category winners and emerging leaders in the Indonesian market.
Eddy Chan: Founding Partner with a background in venture capital and entrepreneurship. He has been instrumental in establishing Intudo as a leading VC firm in Indonesia.
Patrick Yip: Founding Partner who has extensive experience in investment management and has led numerous successful funding rounds for portfolio companies.
Ashley Suhalim: Principal with expertise in identifying high-potential startups and supporting their growth strategies.
Isaura Tjhiater: Principal who focuses on operational support and strategic guidance for portfolio companies.
Ariel Wibowo: Investment Manager with a strong background in financial analysis and deal structuring.
Gibran Ibrahim: Investment Manager who specializes in market research and competitive analysis.
Dhanika Kamaruddin: Investment Manager with experience in scaling startups and navigating regulatory environments.
Michelle Anggadjaja: Investment Associate who assists in due diligence and portfolio management.
Inca Camilla: Marketing Communications professional responsible for enhancing the firm's visibility and outreach efforts.
To pitch to Intudo, founders should send their investment deck and product link to mail@intudovc.com. The pitch deck should include a clear overview of the business model, market opportunity, competitive landscape, and financial projections. Intudo prefers concise and well-organized presentations that effectively communicate the startup's value proposition.
Response times may vary, but founders can expect to hear back within a few weeks. Warm introductions are beneficial but not mandatory. The firm values direct communication and encourages founders to reach out with any questions regarding their pitch.
In November 2024, Intudo closed its fourth fund at $75 million, further solidifying its position as a leading venture capital firm in Indonesia. This fund aims to target moat-driven businesses that leverage unfair advantages in commercial distribution and regulatory navigation.
Recent investments include significant funding rounds for companies such as Populix, Kozystay, and Elevarm, showcasing Intudo's active role in supporting emerging leaders in the Indonesian market. The firm has also led a $13.3 million Series A round for Jala, a shrimp aquaculture technology company.
Intudo continues to expand its portfolio, with notable companies like Xendit, Pintu, Pinhome, and Jago, reflecting its commitment to investing in diverse sectors and supporting category winners in Indonesia.
What are Intudo's investment criteria?
Intudo focuses on investing in non-consensus overlooked companies and emerging leaders across various sectors, including agtech, edtech, fintech, healthcare, logistics, media, proptech, consumer, energy, and web3. The firm typically invests at pre-seed, seed, seed-plus, and Series A stages, with check sizes ranging from $1 million to $10 million.
How can founders apply or pitch to Intudo?
Founders interested in working with Intudo can email their investment deck and product link to mail@intudovc.com. The firm encourages direct communication through this channel for all inquiries.
What makes Intudo different from other VC firms?
Intudo is the first Indonesia-dedicated VC firm, focusing exclusively on the Indonesian market and leveraging local insights and networks. This unique positioning allows the firm to identify and support non-consensus companies that may be overlooked by other investors.
What is Intudo's geographic scope?
Intudo primarily invests in Indonesia, with a secondary focus on Silicon Valley. The firm is committed to supporting startups that operate within the Indonesian market.
What is Intudo's post-investment involvement like?
Intudo strives to take lead positions in almost every company it backs, providing direct access to distribution, regulatory navigation, and local market knowledge through its extensive LP base of Indonesian conglomerates and families. This involvement enhances the growth potential of its portfolio companies.
What is the typical fund size and check size for Intudo?
Intudo has raised a total of over $350 million across its funds, with typical check sizes ranging from $1 million to $10 million. In Series A rounds, the firm typically invests between $3 million and $5 million for 20% to 30% equity stakes.
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