Looking for the best venture capital firms in Indonesia to fuel your startup growth? You’re not alone. 2025 is already shaping up to be a high-stakes year: global investors are eyeing Indonesia’s booming tech scene, while local funds are doubling down on founders who can prove they’re ready to scale.
For startups, the challenge isn’t just finding capital — it’s finding the right partners. The firms worth watching now are those bringing more than money: access to networks, strategic guidance, and the kind of backing that can open doors across Southeast Asia.
In this article, we break down who they are and why getting their attention could be the turning point for your business.
Indonesia’s Fundraising Climate in 2025 and What’s Ahead
Indonesia’s startup scene is off to a rocky start in 2025. During the first half of the year, disclosed funding dropped to just US$161.3 million — a 43.5% year-over-year decline and one of the lowest points in recent memory. Funding slowdown stems from global venture capital headwinds combined with local trust and governance challenges, creating a tougher environment for founders.
A major shock came with the collapse of eFishery, an agritech unicorn once valued at over US$1.4 billion. Once celebrated as a symbol of Indonesia’s tech economy, the company fell under scrutiny after allegations of financial misconduct.
Fallout has been severe. Beyond reputational damage, investor skepticism around due diligence and transparency has deepened, especially for high-growth startups in less-regulated verticals. Early-stage deals are still happening, yet investor sentiment has shifted toward greater caution. VCs are not pulling out, but they have become far more selective. The bar is higher than ever.
Founders now face expectations of stronger operational discipline, clearer paths to profitability, and tighter governance. With global appetite for high-risk, high-burn ventures fading, funds are doubling down on sustainable bets. Fundraising timelines have lengthened, valuations cooled, and startup teams are trimming burn, delaying hires, or pivoting toward capital-efficient models.
Still, correction also brings opportunity. Market reset is forcing both founders and investors to focus on fundamentals. Startups that stay lean, customer-focused, and grounded in sound business logic are not only raising capital but also gaining more hands-on support and strategic guidance from VCs committed to long-term partnership.
Top 10 Best Venture Capital Firms for Indonesia’s Startups in 2025
Antler
- Investment Stage: Pre-Seed onwards
- Industry Focus: Open to all sectors, backing innovation wherever it emerges
- Prominent Portfolio: Airalo, Wrtn, Sona, Two, Pemo, ORA
- Website: https://www.antler.co/
Antler, recognized as one of the most active angel and seed-stage investors not only in Indonesia but also globally, is renowned for its “Day Zero” investment approach—backing entrepreneurs from the earliest stages, often before their companies even launch.
The firm’s methodology systematically removes capital and network constraints by providing its portfolio companies with a range of services, including co-founder matching, business model validation, initial capital, expansion support, and follow-on funding.
With a presence in over 30 cities across leading technology ecosystems worldwide, Antler has made more than 1,300 early-stage investments, helping entrepreneurs transform innovative ideas into successful businesses and being one of the best venture capital firms in the global startup ecosystem.
Check out the founder’s guide to winning pitches with Antler — insights from portfolio founders who’ve been there!
Interested in securing funds from Antler? Connect with them directly through the support of Capital JDI!!
East Ventures
- Investment Stage: Early to growth-stage investments (Pre-Seed to Series C)
- Industry Focus: Sector-agnostic, with a strong emphasis on technology, digital transformation, and emerging markets
- Prominent Portfolio: Prep VN, 99.co, Avium, Bicarakan.id, Bahasa.AI, Baseconnect
- Website: http://east.vc/
East Ventures stands as one of the region’s best venture capital firms, renowned for their deep market expertise and strategic guidance in fostering innovation and scaling over 300 transformative companies across Southeast Asia and beyond.
Guided by their distinctive “2P” philosophy, People and Potential Market, the firm evaluates investment opportunities with clarity and precision while remaining fast and decisive, earning a reputation as an investor capable of closing deals within just 24 to 48 hours.
Beyond investments, East Ventures is committed to sustainable development, embedding ESG principles into their practices and driving initiatives that deliver lasting, positive impact on society.
Interested in securing funds from East Ventures? Connect with them directly through the support of Capital JDI!!
BEENEXT
- Investment Stage: From Pre-Seed to Series A
- Industry Focus: Sector-agnostic, with a strong focus on fintech, enterprise SaaS, consumer technology, artificial intelligence, and sustainability
- Prominent Portfolio: BharatPe, Get My Parking, Akseleran, Bluesky Analytics, Instamojo, Servify
- Website: https://www.beenext.com/
BEENEXT is a global, founder-first venture capital firm dedicated to early-stage technology startups across India, Southeast Asia, Japan, and the United States.
Distinguished by its highly collaborative, community-driven approach, BEENEXT goes beyond providing capital by offering strategic guidance, mentorship, and access to a worldwide network of founders and experts.
Since its inception, BEENEXT has invested in more than 180 startups across 17 countries, backing high-potential companies that are redefining industries and solving meaningful challenges through technology, powered by shared knowledge and collective resources.
Interested in securing funds from BEENEXT? Connect with them directly through the support of Capital JDI!!
Insignia Ventures Partners
- Investment Stage: Series A and beyond
- Industry Focus: Industry-agnostic, open to high-potential ventures in any sector.
- Prominent Portfolio: GoTo, Brankas, Appier, Carro, Ajaib, Aniday, Aspire, AwanTunai, Bakool, Beam Mobility, Bloomo
- Website: https://www.insignia.vc/
Insignia Ventures Partners is one of the most active venture capital firms in the region, with investments in more than 90 companies across diverse industries and geographies, including many that have become technology market leaders.
The firm manages capital from premier institutional investors such as sovereign wealth funds, foundations, university endowments, and renowned family offices across Asia, Europe, and North America.
More than just capital, Insignia’s team of investment and operating professionals brings together decades of experience and proprietary networks to equip founders with the tools they need to grow and create meaningful impact for millions of people in Southeast Asia and beyond.
For startup founders, it is important to note that culture is at the core of everything Insignia does. The firm values diversity, honesty, and transparency, and believes that both team members and portfolio companies contribute to and enrich its culture.
Interested in securing funds from Insignia Ventures Partners? Connect with them directly through the support of Capital JDI!!
Telkomsel Ventures
- Investment Stage: From early to late stage
- Industry Focus: Consumer and enterprise sectors, with a focus on tech-enabled solutions that enhance digital capabilities, efficiency, and accessibility
- Prominent Portfolio: Roambee, Inspigo, Halodoc, Sekolah.mu, Evermos, feedloop
- Website:
https://www.telkomsel.vc/
Telkomsel Ventures is the corporate venture arm of Telkomsel, dedicated to investing in young, high-potential companies and accelerating their growth by opening access to Telkomsel’s extensive ecosystem, assets, and expertise.
With a unique blend of inside-out and outside-in perspectives, Telkomsel Ventures identifies and supports startups that act as catalysts for new growth, strategically aligning with Telkomsel’s objectives while leveraging deep market insights.
Rather than predicting the future, the firm challenges founders to show what’s next. They seek tomorrow’s world-beaters—innovators advancing today’s connected society and the networks that power it, from devices and content, to commerce, data, and the cloud.
Interested in securing funds from Telkomsel Ventures? Connect with them directly through the support of Capital JDI!!
Venturra
- Investment Stage: Early stage
- Industry Focus: Tech-enabled companies with the potential to disrupt industries
- Prominent Portfolio: Klinik Pintar, Fr8Labs, Saladin, Klar Smile, Nano
- Website: https://www.venturra.com/
Venturra is a venture capital firm focused on Indonesia and SEA, backing founders with the ambition to reshape markets through disruptive business models that redefine industries.
The firm believes in supporting startups bold enough to move the needle—the creatives, the trailblazers, the pioneers—many of whom have grown into market leaders in their respective fields.
Grounded in a strong belief in the region’s economic potential, Venturra pursues a clear mission: empowering visionary entrepreneurs to build the next generation of defining technology companies.
Interested in securing funds from Venturra? Connect with them directly through the support of Capital JDI!!
MDI Ventures
- Investment Stage: Pre-seed to Series C+
- Industry Focus: Sector-agnostic, backing high-potential startups across diverse industries
- Prominent Portfolio: Luwjistik, GoCement, Delos, AgriAku, Jutsoo, Pitik
- Website:: https://mdi.vc/
MDI Ventures is a strategic venture capital firm originally anchored by an evergreen fund from Telkom Indonesia, with investments in more than 80 companies across 12 countries.
The firm manages a diverse range of funds with differentiated strategies, enabling it to participate across all stages of investment. This approach ensures efficiency while capturing opportunities throughout the startup journey.
What sets MDI Ventures apart is its ability to unlock new business opportunities and revenue streams through collaboration between its portfolio companies and anchor LPs—ranging from Telkom Indonesia to other state-owned enterprises and leading Indonesian corporates.
Interested in securing funds from MDI Ventures? Connect with them directly through the support of Capital JDI!!
AC Ventures
- Investment Stage: Seed to Growth (Early to Late Stage Ventures)
- Industry Focus: Sector-agnostic, with a strong emphasis on high-potential, technology-enabled businesses
- Prominent Portfolio: Shipper, Stockbit, Ula, Aruna, BukuWarung, CoLearn Xendit
- Website: https://acv.vc/
ACV Capital is a high-growth investment firm backing technology-enabled businesses across Southeast Asia, from venture and growth to private equity stages, with a mission to drive measurable economic, environmental, and social impact.
Rooted in Indonesia yet connected globally, ACV Capital empowers entrepreneurs with more than just capital. Its hands-on guidance, operational expertise, and strategic insights help founders institutionalize their companies, scale effectively, and unlock long-term sustainable value across the region and beyond.
With a strong presence in Indonesia and ASEAN, reinforced by a worldwide network of partners, ACV Capital is one of the best venture capital firms, committed to transforming the region’s most promising companies into market leaders that shape the future.
Interested in securing funds from AC Ventures? Connect with them directly through the support of Capital JDI!!
Alpha JWC
- Investment Stage: Pre-Seed to Series A onwards
- Industry Focus: High-growth sectors, with a strong focus on fintech, consumer, B2B & SaaS, healthcare solutions, and AI
- Prominent Portfolio: Lemonilo, Kopi Kenangan, Carro, Ajaib, Bobobox, Kredivo
- Website: https://www.alphajwc.com/
Alpha JWC Ventures is a leading venture capital firm rooted in Indonesia, with deep expertise across Southeast Asia and strong connections to a global network.
As more than just an investor, the firm partners closely with founders throughout their entrepreneurial journeys—sharing knowledge, capabilities, and networks to help them build and scale transformative businesses.
Guided by core values of trust, integrity, reliability, and commitment to people over the past decade, Alpha JWC has grown into the region’s largest and best-performing early-stage fund, backing over 70 active portfolio companies that are shaping the future of Southeast Asia’s digital economy.
Interested in securing funds from Alpha JWC? Connect with them directly through the support of Capital JDI!!
Intudo Ventures
- Investment Stage: Early stage
- Industry Focus: Technology and tech-enabled businesses across diverse sectors
- Prominent Portfolio: ErudiFi, CarbonEthics, Coldspace, Common Grounds, Delman Data Lab, EMQ
- Website: https://intudovc.com/
Uniquely positioned between Indonesia and Silicon Valley, Intudo Ventures is one of the best independent venture capital firms backed by leading global institutions and family offices—including 30+ Forbes-listed billionaires and their enterprises across the U.S., Asia, Europe, and the Middle East.
The firm’s strategy centers on two pillars: investing in early-stage Indonesian technology and tech-enabled companies, and providing global access to U.S. growth tech—facilitating market entry into Indonesia and creating strategic expansion opportunities for LPs and founders.
Investing with focused conviction, Intudo makes concentrated, high-impact bets underpinned by rigorous due diligence, while delivering unwavering, hands-on support to founders and their teams.
Interested in securing funds from Intudo Ventures? Connect with them directly through the support of Capital JDI!!
Accelerate Your Fundraising Journey with the Best Venture Capital Firms and Capital JDI
Identifying the best venture capital firms gives you direction, but it’s just the first step. Founders also need to connect, impress, and build trust with the right partners — and that’s rarely straightforward.
Capital JDI helps bridge that gap by guiding startups through fundraising preparation, refining investor pitches, and opening doors to networks that matter. Our goal is simple: give founders a clear edge when approaching investors and increase the chances of securing the right capital for sustainable growth.
For those ready to take the next step, our team is here to support your journey. Reach out today for a detailed discussion on how we can help you connect with the right VCs and secure funding to drive your startup’s growth.
And if you want to dive deeper into what investors expect before making commitments, continue with our next article: Investor Checklist: What VCs Expect from Indonesian Startups in 2025.
