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KB Investment Establishes Jointly Managed Fund with TelKom Group of Indonesia
Targeting Tech Startups in Southeast Asia
KB Investment Establishes Jointly Managed Fund with TelKom Group of Indonesia
  • By Yoon Young-sil
  • December 12, 2019, 13:23
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KB Financial Group CSO Lee Chang-kwon (fourth from left) and Telkom Group CEO Ririek Adriansyah (eighth from left) pose for a photo along with other officials after agreeing to set up a joint fund at Telkom’s main office in Jakarta, Indonesia on Dec. 9 (local time).

KB Investment, a subsidiary of KB Financial Group, announced on Dec. 11 that it has established a jointly managed fund (Centauri Fund) with Telkom Group, Indonesia's largest state-run telecommunications group, to target tech companies and markets in Southeast Asia.

The jointly managed fund will be operated by KB Investment and MDI Ventures, a subsidiary of Telkom Group, with the goal of leading new investment ecosystems in Southeast Asia.

They are in the process of completing the first round of fund establishment, and plan to raise the amount of the fund to US$150 million by recruiting additional investors.

Full-scale investment is expected to begin in the first quarter of next year. Its major investment targets are startups with innovative technologies such as fintech, e-commerce and big data.