AC Ventures raises US$210 million for fifth investment fund
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AC VENTURES’ fifth investment fund, ACV Fund V, raised US$210 million at its final close, missing the initial target of US$250 million.
The Indonesia-based venture capital firm said on Tuesday (Jan 23) that the amount includes the sum raised for its previous co-investment funds.
The fund’s focus will be on Indonesia, across consumer, fintech, micro and small enterprises, and commerce businesses that drive social and economic impact. A new theme in Fund V is climate tech, and it has co-investment funds to further invest in AC Ventures’ existing portfolio companies.
Returning investors make up 50 per cent of Fund V’s capital, with 90 per cent of limited partners being institutions. Key investors include the International Finance Corporation (IFC), as well as financial institutions from the US, Middle East and North Asia.
Euan Marshall, IFC country manager for Indonesia and Timor-Leste, said: “The dynamic growth of tech-enabled businesses has become a major catalyst for innovation. It not only generates employment opportunities for young people, but it also provides innovative solutions that enable better delivery of vital services that address pressing development challenges.”
Fund V has already started deploying capital, and is the lead investor in electric-vehicle manufacturing Maka Motors’ US$37.6 million seed round, among others.
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Founder and managing partner Adrian Li said: “With ACV Fund V, we are not just investing in companies with significant financial upside, but in a future where economic success and societal impact go hand in hand.”
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