JAKARTA. The Financial Services Authority (OJK) recorded that venture capital financing and participation grew 37.7% year on year (yoy) from Rp 8.13 trillion in October 2018 to Rp 11.2 trillion in October 2019.
Indonesian Venture Capital and Startup Association (Amvesindo) Secretary-General Rimawan Yasin said the growth was supported by business improvement carried out by venture capitalists. "It means the enthusiasm is still high in the business, and the implementation is running well," said Mr Yasin as quoted by Kontan, Sunday (9/12).
As of October 2019, venture capital financing and participation were still dominated by peer-to-peer (P2P) lending, with financing in the sector growing 29.2% yoy to Rp 8.84 trillion.
The equity participation segment recorded Rp 1.84 trillion, while convertible bonds posted Rp 484 billion. (KR/MS)