Indonesia-based venture capital firm MDI Ventures has appointed Donald Wihardja as its new CEO. He most recently served as the VC Partner at AC Ventures and has played a crucial role as the chief information officer (CIO) in leading companies such as 2C2P, Indomog, and Quvat Management.
MDI Ventures had been operating without a CEO for nine months ever since former founder and CEO Nicko Widjaja stepped down from his position last year to join BRI Ventures, the VC arm of Indonesia’s state-owned bank, Bank BRI.
Managing partner Kenneth Li, Vice President of Investments Aldi Adrian Hartanto, and Alvin Evander will continue to stay. Under their leadership, the company has headed towards three profitable exits and the closing of three new associated funds.
The multi-stage VC firm backed by Telkom Indonesia conducts operations both in Singapore and Silicon Valley.
It combines a unique VC model by providing companies with funding and access to operational help after making a financial investment. Disruptive and innovative companies in the online, media and mobile internet space are the ventures MDI aims to invest in.
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In conjunction with the appointment, MDI Ventures will be launching two parallel funds this year, a seed-stage fund as well as a later stage vehicle this year.
Its most recent funding is an investment in an Indonesian insurtech company called Qoala.
The company also managed to achieve five exits last year – which is more than any other Indonesian VCs to date. According to Crunchbase, MDI has made a total of 14 lead investments out of 37 investments to date.
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Image Credit: MDI Ventures
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