Beyond Capital
    Category: E-Conomy By : Ulisari Eslita Read : 898 Date : Wednesday, February 08, 2017 - 15:06:48




    Ahmad Zamroni / Forbes Indonesia

    Internet investment firm Kejora Ventures was started in January 2014, founded by Sebastian Togelang, 38; Kris Adidarma, 43; Baritono Pangestu, 37; Rachmat Harsono, 36; and Andy Zain, 43. Initially, they never thought the small office space they rented in West Jakarta would not be enough space. Starting with less than 10 people, in a few months the room was packed with people working for its first investee company, startup fintech firm Cekaja.com, launched in April 2014. Cekaja.com provides information on financial products, such as credit cards and insurance, allowing users to browse and compare offerings from a broad range of providers, then purchase them.

    Today, the firm has bigger offices, covering about 5,000 sqm, with 27 investee companies (13 companies are directly under Kejora, while the rest are under its partner, the Ideabox-IndosatOoredoo incubator) and employing about 700. “We’re glad with the progress, since the firm grew faster than we expected,” says co-founder Sebastian.   

    As an active venture capital, Kejora Ventures invests in at least four to five startups every year. Its first fund of $12 million, raised in 2014, has already been deployed into 28 companies (one later failed). Each company got funding ranging from seed capital to pre-series B funding, up to $1 million. This month, Kejora will raise its second fund for as much as $80 million, and so they can deploy larger investments into startups. “In this second fund, we are going to increase our investment, ranging from $2 to $5 million for each startup,” says Sebastian.

    Currently, Kejora invests in a variety of sectors, such as fintech, with firms such as Cekaja, Investree and Pawoon. Other sectors are digital media, logistics and human resources. “We prefer startups that can solve a big problem for society. Many problems are a result of inefficiency. One of them is logistics. For example, we have Etobee to solve logistics problems,” says co-founder Kris.

    As a venture firm, Kejora is selective, with strict requirements to ensure a high success rate. “During three years of operation, out of 13 startups we have invested in, only one startup has failed,” says Sebastian. Among the requirements are experienced staff and an ability to quickly generate revenue.

    Unlike most startups, Kejora’s portfolio firms are already making profits. “From the start, we are aiming to create sustainable companies, not merely burning money. We are looking for companies that can get revenue quite early,” says Sebastian.

    That’s why Kejora does more than disburse capital; it also tries to create an ecosystem to help its startups grow. In its headquarters in Wisma Barito Pacific, Kejora puts all its startups together in one place so they can network, and share resources and ideas. “As a part of Kejora, we are lucky enough to have a healthy ecosystem to grow, and have state of the art technology which can be leveraged, as well as access to international investors,” says Adrian Gunadi, chief executive of Investree. 

    Read full version of the article



    `