We are happy to announce five riveting sessions at the Indonesia PE-VC Summit 2024, scheduled for January 25 at The Langham in Jakarta.
Despite the current global economic uncertainties, Indonesia remains an attractive investment destination due to its size, rapid economic growth, and relatively supportive regulations.
Furthermore, Indonesia is riding on favourable macro drivers including demographics, rising middle class, and domestic consumption-led growth that makes it a compelling destination for capital allocations as it promises to generate great multiples for investors.
How are seasoned investors and founders reading Indonesia’s growth story and its trajectory ahead?
Our five sessions feature a fireside chat with Indonesia’s tech giant GoTo CEO Patrick Walujo and panel discussions that deep-dive into fundraising trends, LP perspectives on Indonesia and hot themes—EV and fintech.
Driving GoTo towards profitability and lessons for Indonesia’s tech ecosystem
Fireside chat with GoTo CEO and Northstar Group managing partner Patrick Walujo
Patrick Walujo, Managing Partner at Northstar Group, speaks to DealStreetAsia’s Editor-in-Chief Joji Thomas Philip at a fireside chat at the #IndonesiaPEVCSummit 2023.
GoTo Group undertook a massive leadership shakeup in June 2023 that saw Northstar Group managing partner Patrick Walujo taking over as the new CEO. In the driver’s seat, Walujo is widely expected to prepare the Indonesia-listed tech giant for a faster move toward profitability and an eventual US public offering.
After assuming charge, Walujo’s main focus has been on cost-cutting measures, driving synergies, and shutting down non-core divisions. In a landmark deal, GoTo agreed to sell a 75.01% stake in its e-commerce division Tokopedia to TikTok — the ByteDance-owned short video app whose social commerce business, TikTok Shop, was shuttered in September following a ban on social commerce. TikTok has committed to invest over $1.5 billion into the enlarged Tokopedia.
In the keynote chat at the summit, Patrick Walujo, who is also an early investor in Gojek, will dwell on the challenges of managing heated competition from rivals, on one hand, and investor expectations on the other.
GoTo CEO also wears the hat of Co-Founder and Co-Managing Partner of the Northstar Group, a Singapore headquartered private equity and venture capital firm.
Since its founding in 2003, the Northstar Group has raised five private equity funds and a venture capital fund and is now one of the largest private investors in Southeast Asia. The Northstar Group focuses on Indonesia with a current strategy of investing in the financial services, consumer and digital economy sectors.
Big Picture: What 2023 data is telling us about funding trends in SE Asia
Venture capital funding in Southeast Asia has plunged to levels not seen in many years. Startups in SE Asia sealed 151 deals in the third quarter of 2023, marking the lowest quarterly deal volume in nearly three years, according to DealStreetAsia DATA VANTAGE’s Q3 report.
In this session, we will bring you full-year data-led insights on the startup fundraising performance, funding trends across quarters, sectors and countries, deal volume and value across funding stages, median and average deal value across stages, investor perspectives, and more.
Has fundraising hit the rock bottom in SE Asia? Will 2024 spell a bounceback in deal trends?
The LP View: Tracing capital allocations from new markets
As limited partners tread carefully on their investments in China, capital allocations to promising markets in SE Asia, especially Indonesia, may see a northward trend.
Overseas institutional investors and strategic players are also looking at direct investments as they pursue returns in a challenging macroeconomic environment. However, capital allocations in diverse markets in SE Asia are not without their challenges.
Do scalability challenges and an under-developed exit environment make Indonesia a patient capital play? With ample opportunities in infrastructure, consumer and digital economy, is Indonesia a compelling bet despite the challenges?
Will Indonesia take off as major global EV hub?
Indonesia is set to become a global hub for electric vehicles (EVs) with its abundant nickel reserves. Over the past few years, the government has been introducing various incentives to lure investments and develop the local EV supply chain.
Indonesia aims to reduce emissions by 31.89% in 2030 and achieve net zero emissions by 2060. The switch to EVs can help the country reach this goal. The country aims to have 400,000 units of electric cars in 2025 and 5.7 million units in 2035. Investments form a crucial part of how the EV sector’s development and adoption will evolve in Indonesia.
Will Indonesia continue to attract investments from global carmakers looking to set up a base in the country? How will the country solve the various pain points in the EV journey from policy bottlenecks to execution challenges to customer adoption? How will Indonesia balance EV sector growth and the adverse impact of nickel mining?
Fintech in Indonesia: The models in the spotlight
Indonesia’s huge market size, large unbanked and underbanked population coupled with internet penetration means there is an enormous opportunity across various verticals within the the fintech industry to flourish.
Despite challenges, some of the models that are in the spotlight include P2P lending, B2B fintech payments, virtual credit cards, and BNPL among others. On the funding side, the fintech industry in SE Asia remained the most popular vertical in the third quarter, but deal volume fell to a five-year low.
Wealthtech remained the most popular fintech category followed by e-payment and fintech lending. What are some of the white spaces that will be standout niches in Indonesian fintech? How are operators navigating regulatory constraints, scalability challenges, and user acquisition amid the overall funding winter? Is consolidation the way forward?
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