Japan-based VC CyberAgent Ventures is preparing a co-working space for Indonesian startups. This shows how big the VC’s commitment for Indonesian market is. The team claimed that they are ready to inject $25 million to startups who look for seed, series A, and series B funding. For several years to come, CyberAgent Ventures spends around $1,5-2 million (19-26 billion Rupiah) for each startup.
“We provide $50 million for Southeast Asian market focusing on Indonesia, Vietnam, and Thailand. Indonesia clearly is our priority, covering 50% with the total fund we prepare,” CyberAgent Ventures’ VP Steven Vanada told us during the inauguration of the new office.
As their offices in other areas, Vanada plans on turning this office located in Slipi, Jakarta as a space for startups outside Indonesia that look for an expansion. Two to three startups under CyberAgent Ventures may utilize the facility for free, so do Indonesian startups that look to expand overseas.
The facility isn’t only open for CyberAgent-invested startups, but also others with small team and no office at an affordable rate.
In Indonesia, four out of nine startups invested by CyberAgent have received their series A funding, while the rest five are still in their seed phase. Vanada claimed that his team does no longer focus merely on series A funding, but also seed funding as well.
“Upon entering Indonesian market a few years ago, we didn’t have any direction for our investment. Now everything has changed, as the ecosystem has grown much better. With this new money, we will fund seed, series A, and series B investment. Not only for e-commerce-based startups, but also education-based, fintech, real estate, car listing, and all startups that focus on mobile app,” he added.
CyberAgent will focus on finding mobile-first startups. According to CyberAget Ventures’ General Manager Takahiro (Taka) Suzuki, it is because the potential of mobile covers the potential of the dominating mainstream market. As long as you have clear business model and long-term plans, then CyberAgent is there for you. Taka and Vanada will start funding after the middle of next July.
FYI, CyberAgent Ventures is going to announce an investment in e-commerce in the near future.