Indonesia VCs reach for key growth sectors during pandemic as Mar-May placements beat 2019
JAKARTA – Indonesia’s GDP may have contracted by 5.32% in the second quarter due to the COVID-19 crisis but venture capital placement during the lockdown period increased.
From March to May, venture capital firms put up 39.997 trillion rupiah ($2.7 billion), 38.74% more than the same three months last year, according to data from the Financial Services Authority (OJK).
Most of these funds were pumped into trade, restaurants and hotels; business support services; industry; and agriculture, fisheries and forestry.
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