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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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SMDV (Sinar Mas Digital Ventures)CVC
Jakarta| Est. 2014
CVC
Sinar Mas Group CVC. 39 portfolio companies, 1 unicorn (Kopi Kenangan), 1 IPO (Fore Coffee Apr 2025 IDX at $103M). Co-founded EV Growth with East Ventures and Yahoo Japan ($150M target 2018).
StageSeed
TicketUndisclosed
StatusActive (CVC)
Investment Thesis
SMDV (Sinar Mas Digital Ventures) is the tech investment arm of Sinar Mas Group, one of Indonesia's largest conglomerates. Supports Sinar Mas ecosystem integration across paper, real estate, agribusiness, telecom, and financial services. Provides Hyperjump CTO-as-a-Service and Wirehire HR services to portfolio.
Operating Model
- 01Sinar Mas ecosystem access
- 02EV Growth co-investment vehicle
- 03Hyperjump tech support
- 04Wirehire HR services
- 05Cross-portfolio synergies
Notable Investments
Verified Deal Flow (2019-2025)
| Startup | Date | Stage | Amount | Sector |
|---|---|---|---|---|
| CarbonEthics | Sep 2024 | Seed | US$ 2.1M | Climate / Energy |
| Jejakin | May 2024 | Seed | US$ 2.7M | Climate / Energy |
| Gravel | Dec 2023 | Growth | US$ 14M | Construction Tech |
| JALA | Nov 2023 | Series A | US$ 13.1M | Agritech |
| Praktis | May 2023 | Series A | US$ 20M | Supply Chain |
| Legit Group | Apr 2023 | Series A | US$ 13.7M | F&B |
| Bananas | Feb 2022 | Seed | US$ 1.5M | Commerce |
| Aruna | Jan 2022 | Series A | US$ 30M | Agritech |
| Asumsi | Sep 2021 | Bridge | Undisclosed | Media |
| Fuse | Aug 2021 | Series B | US$ 30M | Insurtech |
| Aruna | Jul 2021 | Series A | US$ 35M | Agritech |
| Hacktiv8 | Jan 2020 | Pre-Series A | US$ 3M | Edtech |
| Yummy Corp | Oct 2019 | Series A | US$ 7.75M | F&B |
| Aruna | Oct 2019 | Seed | Undisclosed | Agritech |
| Kedai Sayur | Sep 2019 | Venture Round | US$ 4M | Agritech |
| Waresix | Jul 2019 | Series A | US$ 14.5M | Logistics |
| Warung Pintar | Jan 2019 | Series B | US$ 27.5M | Commerce |
| Fore Coffee | Jan 2019 | Series A | US$ 8.5M | F&B |
Data Integrity Check
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