Open Labs launches US$100m fund to grow high-potential SMEs in Indonesia

Jakarta

ARMED with a US$100 million fund, Indonesian brand aggregator Open Labs wants to invest in local e-commerce sellers with the aim of scaling their operations and growing their presence online.

The company's founder and chief executive officer Jeffrey Yuwono said he is on the lookout for high-potential small and medium-sized enterprises (SMEs) that have at least 3 billion rupiah (S$282,950) in annual revenue, have a positive growth trajectory and are market leaders in their respective sectors.