VC firms stay bullish on Indonesian startups despite economic downturn
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Jakarta
WITH over 2,000 startups, Indonesia has over the past few years been viewed as one of the top destinations for venture capital and private equity firms. Globally, the country ranks fifth in the startup space, having drawn more than US$8 billion in funding through nearly 700 deals from 2016 to 2019.
Startup founders such as Nadiem Makarim, co-founder of Go-Jek; Ferry Unardi, co-founder of Traveloka; Natali Ardianto, co-founder of Tiket.com; William Tanuwijaya, co-founder of Tokopedia; and Achmad Zaky, co-founder of Bukalapak are not only extremely wealthy but have attained rock star status in Indonesia.
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