Pertamina NRE and MDI Ventures open energy startup funding opportunities

04 October 2022 16:07

JAKARTA - As an effort to accelerate the energy transition in Indonesia, Pertamina NRE, and PT Metra Digital Investama (MDI Ventures) signed a head of agreement (HoA) on the initiation of investment cooperation in the form of an energy fund on Monday (26/9) at the BUMN Startup Day event. .

The signing was carried out ceremonially by the Director of Human Resources and Business Support for Pertamina NRE, Said Reza Pahlevy and the President Director of MDI Ventures, Donald Wihardja, and witnessed by the Minister of State-Owned Enterprises (BUMN), Erick Thohir, Deputy Minister of BUMN II, Kartika Wirjoatmodjo, and the Director Main Pertamina, Nicke Widyawati.

Pertamina NRE's collaboration with MDI Ventures in the New Energy Fund initiative aims to accelerate the energy transition through investment in start-ups in technology and new innovations in the new and renewable energy sector. In line with Pertamina's NRE business pillar, the New Energy Fund's investment targets are low carbon solutions, new and renewable energy, as well as the future business of the energy sector.

MDI Ventures is Telkom's venture capital unit, with a fund management value of more than US$830 million. MDI Ventures is the largest technology investment company in Indonesia and has one of the best performing funders in Asia.

Donald Wihardja, CEO of MDI Ventures, said “Energy Fund's strategic value has the potential to capture opportunities in new and renewable energy sector innovation. This is expected to open up new opportunities considering that MDI Ventures as a multi-fund manager can also invest together with the Energy Fund to generate Pertamina's growth and synergy. Going forward, investments made in this sector will have a greater impact with the collaboration between MDI Ventures and Pertamina NRE. We see that Pertamina is capable of managing the end-to-end value chain in the energy sector." (LM)


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