Digital Gold Rush
    Category: 4 Digital E-conomy By : Ardian Wibisono Read : 1068 Date : Friday, February 19, 2016 - 08:25:10

    Many of Indonesia’s wealthiest are jumping on the digital bandwagon, pouring in millions to invest in local and international tech startups in the past few years. The investment is usually made by the families’ next generation for the family or as individuals. Some investments relate with their conventional business while others have branched into new areas. Here is 5 out of 10, all members of the 50 Richest list. (Full list in digital and print issue)


    Martin Hartono, son of Indonesia’s richest tycoon R. Budi Hartono, founded Global Digital Prima (GDP) Venture to invest in Internet firms in 2010, among the first ones in the country. Martin also heads his family firm Djarum’s technology division. GDP’s notable investments are leading community forum and marketplace Kaskus, e-commerce site Blibli, and tech incubator Merah Putih.


    Indra Priawan Djokosoetono, a member of the family that controls and runs Indonesia’s largest taxi company Blue Bird, recently invested a six digit figures in a pre-series A funding round in men’s fashion e-commerce platform Maskoolin.


    John Riady, grandson of Mochtar Riady, launched e-commerce site last year with $500 million. John also set up venture capital firm Venturra Capital with $150 million fund to spend on series A and B companies with average investments of $2 to $5 million.


    Last year, Philippines based telco company PLDT owned by Anthoni Salim bought a 10% stake of Germany’s Rocket Internet worth $445 million. His son Axton is the founder of Singapore based app development company Codigo.


    Adi Sariaatmadja, son of Eddy, heads Kreatif Media Karya, the digital business unit of Indonesia’s integrated media firm PT Elang Mahkota Teknologi. Some of the startups in company’s portfolio are Muslim fashion site and payment service Kudo. Last year it partnered with PropertyGuru on property brokerage