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///LATE STAGE • Sociolla • US$ 250M • Commerce///POLICY • Gold Export Duties: Progressive Reference-Price Ladder Kicks In///SERIES A • Hangry • US$ 10.5M • F&B///POLICY • Coal Export Tax 2026: Indonesia Signals a New Resource-Rent Phase///SERIES B • Honest • Undisclosed • Fintech///POLICY • Export FX Repatriation: Proceeds Routed Through State Banks From 2026///SEED • Arummi Foods • US$ 2M • F&B///POLICY • OJK POJK 4/2025: Financial Aggregators Move Into a Licensing Regime///PRE-SEED • IDRX • US$ 300k • Web3///POLICY • Finfluencer Rules: OJK Tightens Conduct Around Securities Marketing///SERIES C • Yup • US$ 32M • Fintech///POLICY • Dormant Accounts: New Standardization Changes Bank Data and Ops///LATE STAGE • Sociolla • US$ 250M • Commerce///POLICY • Gold Export Duties: Progressive Reference-Price Ladder Kicks In///SERIES A • Hangry • US$ 10.5M • F&B///POLICY • Coal Export Tax 2026: Indonesia Signals a New Resource-Rent Phase///SERIES B • Honest • Undisclosed • Fintech///POLICY • Export FX Repatriation: Proceeds Routed Through State Banks From 2026///SEED • Arummi Foods • US$ 2M • F&B///POLICY • OJK POJK 4/2025: Financial Aggregators Move Into a Licensing Regime///PRE-SEED • IDRX • US$ 300k • Web3///POLICY • Finfluencer Rules: OJK Tightens Conduct Around Securities Marketing///SERIES C • Yup • US$ 32M • Fintech///POLICY • Dormant Accounts: New Standardization Changes Bank Data and Ops
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MDI Ventures
CVC

Jakarta| Est. N/D

Multi-stage CVC of Telkom Indonesia ($830M+ AUM). 80+ companies in 12 countries. Largest tech investor in Indonesia. Parent of Ascent Venture Group.

StageSeed
Ticket$1M - $30M
StatusActive (CVC)
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Investment Thesis

MDI Ventures is the multi-stage CVC arm of Telkom Indonesia with $830M+ AUM, investing in 80+ companies across 12 countries. Largest tech investor in Indonesia. Note: Centauri and ARISE funds merged under MDI umbrella to form Ascent Venture Group.

Operating Model

  • 01Telkom synergy
  • 02Multi-fund structure
  • 03State-owned backing

Focus Areas

AgnosticTelcoDigital

Notable Investments

KredivoQoala Zenius

Verified Deal Flow (2019-2025)

StartupDateStageAmountSector
IDRXSep 2025Pre-SeedUS$ 300kWeb3
DayaTaniJan 2024SeedUS$ 2.3MAgritech
Good DoctorOct 2023Series AUS$ 10MHealthtech
CakapApr 2023Series C1UndisclosedEdtech
Legit GroupApr 2023Series AUS$ 13.7MF&B
PaxelAug 2022Series CUS$ 23MLogistics
AgriAkuJul 2022Series AUS$ 35MAgritech
QoalaMay 2022Series BUS$ 65MInsurtech
AgriAkuMar 2022Pre-Series AUS$ 6MAgritech
ZeniusMar 2022Series BUndisclosedEdtech
DELOSMar 2022SeedUS$ 8MAgritech
BananasFeb 2022SeedUS$ 1.5MCommerce
PrivyOct 2021Series BUS$ 17.5MSaaS / AI
OY! IndonesiaSep 2021Series AUS$ 30MFintech
EvermosSep 2021Series BUS$ 30MCommerce
KoinWorksAug 2021Series CUS$ 108MFintech
PaxelAug 2021Series BUS$ 12.5MLogistics
NodefluxAug 2021Series BUS$ 7MSaaS / AI
AmarthaMay 2021GrowthUS$ 28MFintech
TaniHubMay 2021Series BUS$ 65.5MAgritech
AmarthaMay 2021Series DUS$ 28MFintech
SiCepatMar 2021Series BUS$ 170MLogistics
AlodokterMar 2021Series C+US$ 33MHealthtech
FabelioJun 2020Series CUS$ 9MCommerce
QoalaApr 2020Series AUS$ 13.5MInsurtech
QoalaMar 2019SeedUS$ 1.5MInsurtech

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