Organization · Corporate Venture Capital
Merah Putih Fund
Merah Putih Fund is Indonesia's first state-owned venture capital fund, focused on accelerating local soonicorns through investment and integration within the BUMN ecosystem. It targets growth-stage startups with a pre-money valuation of $200-350 million.
Overview
What Merah Putih Fund does
What Merah Putih Fund is
Merah Putih Fund is Indonesia's first state-owned venture capital fund, focused on accelerating local soonicorns through investment and integration within the BUMN ecosystem. It targets growth-stage startups with a pre-money valuation of $200-350 million.
How it participates in the startup ecosystem
The current public profile supports funder capabilities. Each capability below is shown separately so organization identity and role-specific information do not get conflated.
Operational profile
Organization status and context
Organization status describes the entity itself. Funding and program availability appear within the relevant capability profile.
- Operational status
- Active
- Organization type
- Corporate Venture Capital
- Founded
- Founded in 2021
- Approximate age
- About 5 years
- Structured capabilities
- Funder
- Last reviewed
- May 3, 2026
Official channels
Find Merah Putih Fund elsewhere
Open the official website or a supported primary organization account.
Capability profile
Merah Putih Fund as a funder
Investment thesis
Merah Putih Fund is Indonesia's first venture fund supporting the acceleration of local soonicorns through capital, business collaboration, and exit guidance.
Focus narrative
Merah Putih Fund invests in growth-stage startups, specifically targeting soonicorns in Indonesia. The fund's investment strategy includes supporting founders who are Indonesian citizens and reside in Indonesia, with a pre-money valuation range of USD 200-350 million and ticket sizes between USD 20-25 million. The fund aims to increase the number of unicorns in the country and enhance the digital economy.
Value beyond capital
Merah Putih Fund provides unique value to its portfolio companies through direct integration with the distribution networks of its state-owned enterprise partners. This structural advantage accelerates revenue scaling within Indonesia and offers support for IPOs aligned with the Indonesia Stock Exchange (IDX), creating a domestic exit pathway for startups.
Terms and economics
- Typical check
- $20,000,000–$25,000,000
Focus and fit
- Stages
- Series C · Series D · Growth Equity
- Regions
- Asia
Availability
- Currently deploying
- Yes
Portfolio and track record
Portfolio context
The fund collaborates with several notable corporate venture capital firms, including Mandiri Capital (Bank Mandiri), MDI Ventures (Telkom Group), TMI (Telkomsel), BRI Ventures (Bank BRI), and BNI Ventures (Bank BNI). These partnerships are intended to support the growth of soonicorns and integrate them into the broader business ecosystem of BUMN.
Common questions
What to know about Merah Putih Fund
Upseed classifies Merah Putih Fund under the Corporate Venture Capital organization type. Its current public profile includes funder capabilities.
Source and update disclosure
Know what this page is based on
Source basis
Public organization and program material, official websites, and structured Upseed records.
Last reviewed
May 3, 2026
Known limits
Capability profiles appear only when a structured public profile also contains decision-useful role evidence. Terms and availability can change.
Upseed is an independent guide. It is not affiliated with or endorsed by the organization described on this page.