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MDI Ventures is the corporate venture capital initiative of Telkom Indonesia, founded in 2015. The firm manages multiple funds with a total AUM of $830 million and has invested in over 92 companies across 12 countries. MDI Ventures operates from its headquarters in Jakarta, Indonesia, and has representative offices in Los Angeles, California, and Singapore. The firm has established itself as a significant player in the venture capital space, focusing on creating access to new business opportunities through collaboration with local founders and startups.
Since its inception, MDI Ventures has achieved notable milestones, including investments in 6 unicorns, 4 IPOs, and 11 acquisitions. The firm has also developed incubator and accelerator programs, such as the Indigo Creative Nation and eMerge, which support early-stage startups. MDI Ventures emphasizes operational expertise and networks provided by Telkom Indonesia, enhancing the growth potential of its portfolio companies.
MDI Ventures focuses on multi-stage investments across Asia-Pacific and ASEAN, with a strong emphasis on Southeast Asia. The firm invests in various sectors, including fintech, healthcare, AI, food-agtech, consumer products, SaaS, edtech, and cybersecurity. Check sizes range from $2 million to $33 million, allowing MDI Ventures to support startups at different stages of their development, from pre-seed to Series D.
As of 2025, MDI Ventures has shifted its strategic focus toward AI, cybersecurity, and enterprise software, reflecting the evolving market demands. The firm seeks to partner with local founders who demonstrate a strong vision and the potential for tangible business results. MDI Ventures employs a collaborative approach, connecting startups with its anchor investors, which include state-owned enterprises and large corporations, to enhance the value of its investments.
MDI Ventures boasts a diverse portfolio of 92 companies, including 6 unicorns, 4 IPOs, and 11 acquisitions. Notable portfolio companies include:
Additionally, MDI Ventures has made 18 seed-stage investments with an average check size of $2.48 million, 10 Series A investments averaging $16 million, and 20 Series B investments averaging $33.2 million. Other notable companies in their portfolio include Kata.ai, Amartha, CYFIRMA, and Cakap.
Nicko Widjaja: CEO of MDI Ventures, Nicko has extensive experience in venture capital and corporate strategy. He has led numerous investments in the technology sector and is known for his strategic insights.
Fajrin Rasyid: Director of Digital Business at Telkom Group, Fajrin plays a key role in guiding MDI Ventures' investment strategy and fostering partnerships with startups.
Sarah Usman: Partner at eMerge, Sarah brings expertise in early-stage investments and has a strong background in supporting startup growth.
Achmad Sugiarto: Director of Strategic Portfolio at Telkom Group, Achmad focuses on optimizing the performance of MDI Ventures' portfolio companies.
Aditya Hadiputra: Principal at MDI Ventures, Aditya is involved in sourcing and evaluating investment opportunities across various sectors.
Startups interested in pitching to MDI Ventures should send their proposals via email to info@mdi.vc. It is important to include a comprehensive pitch deck that outlines the business model, market opportunity, and team qualifications. MDI Ventures typically reviews submissions within a few weeks, and warm introductions are preferred but not mandatory.
MDI Ventures runs several programs to support startups, including:
On May 20, 2025, MDI Ventures made its latest investment, marking a return to active deal-making after an 18-month lull. The firm has invested in 2 new companies in the last 12 months, signaling a renewed focus on expanding its portfolio.
In 2024, MDI Ventures achieved $60 million in exits, showcasing the successful performance of its portfolio companies. The firm continues to manage a diverse portfolio of over 92 companies, with a strategic emphasis on sectors such as AI and cybersecurity.
What are MDI Ventures' investment criteria?
MDI Ventures invests in startups across various stages, from pre-seed to Series D, with a focus on sectors such as fintech, healthcare, AI, and cybersecurity. The firm looks for local founders with strong visions and the potential for tangible business results.
How can startups apply or pitch to MDI Ventures?
Startups can reach out to MDI Ventures via their pitch email at info@mdi.vc. It is advisable to include a detailed pitch deck outlining the business model, market opportunity, and team background.
What makes MDI Ventures different from other venture capital firms?
MDI Ventures combines traditional venture capital investment with operational support services, leveraging the expertise and networks of Telkom Indonesia. This unique approach enhances the growth potential of portfolio companies.
What is the geographic scope of MDI Ventures?
MDI Ventures primarily focuses on Southeast Asia and the broader Asia-Pacific region, but it has also expanded its geographical focus to include North America and Europe.
What is the fund size and check size range?
MDI Ventures manages a total AUM of $830 million, with check sizes ranging from $2 million to $33 million, allowing for flexibility in supporting startups at various stages.
What is MDI Ventures' post-investment involvement?
MDI Ventures actively connects portfolio companies with operational expertise and resources from Telkom Indonesia, providing ongoing support to enhance their growth and success.
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