AC Ventures
Overview
AC Ventures is a leading early-stage venture capital firm focusing on investing in technology-enabled businesses in Indonesia and Southeast Asia. Formed in 2020 through the merger of Agaeti Venture Capital and Convergence Ventures, the company has become a significant player in nurturing tech startups in the region. With headquarters located in Jakarta, it has raised more than US$550 million across its funds. The firm was founded by Adrian Li, Michael Soerijadji, and Pandu Sjahrir, all of whom have extensive backgrounds in entrepreneurship and venture capital.
Recent Developments
- March 2025: AC Ventures participated in a US$6.2 million pre-Series A funding round for Skor Technologies, an Indonesian fintech company focusing on consumer credit solutions. The investment was led by Argor Capital, with notable participation from existing investors like QED Investors and Saison Capital. Skor Technologies aims to address Indonesia's low credit card penetration of below 3% by introducing a digital-first credit card.
- April 2025: Fore Coffee, a company in AC Ventures' portfolio, successfully debuted on the Indonesia Stock Exchange (IDX). The IPO was oversubscribed 200 times, and Fore Coffee's shares rose by 34.04% on its first trading day from the IPO price, demonstrating solid and promising market potential.
- April 2025: At the VIPC Summit 2025 in Vietnam, AC Ventures Founder & Managing Partner Adrian Li highlighted Vietnam's investing potential, particularly focusing on technology and digital sectors.
- January 2025: AC Ventures and KEARNEY launched a comprehensive guide titled "Winning the Talent Game: Playbook to Retain Top Talent for the Digital Age." This initiative aims to assist startups in retaining top talent amidst a competitive job market.
Company Information
| Attribute | Information |
|---|---|
| Founding Date | 2020 |
| Headquarters | Jakarta, Indonesia |
| Founders | Adrian Li, Michael Soerijadji, Pandu Sjahrir |
| Revenue | Not publicly disclosed |
| Profits | Not publicly disclosed |
| Key Investors | International Finance Corporation, East Ventures, and more |
| Industry | Venture Capital |
| Number of Employees | Approximately 40 |
Early History
AC Ventures was formed by merging two successful venture capital firms in Indonesia, Agaeti Venture Capital and Convergence Ventures, which had been investing in the Indonesian tech ecosystem since 2014. Both firms brought together a wealth of experience and a deep local network. Their founders, Adrian Li and Pandu Sjahrir, had recognized the potential in Indonesia's rapidly growing digital landscape and decided to combine forces to have a more significant impact. By leveraging Indonesia’s robust domestic market and a growing number of technology-enabled companies, AC Ventures quickly positioned itself as a strategic partner to startups aiming to scale.
Company Profile and Achievements
AC Ventures strategically invests in early-stage technology startups with a focus on Indonesia’s digital disruptors, such as consumer technology, financial technology, and e-commerce. The firm's business model emphasizes providing more than just capital by combining operational expertise, industry knowledge, and access to a broad network. Noteworthy achievements include:
- Formation of Fund V: In January 2024, AC Ventures closed US$210 million for its fifth fund, attracting several global investors including the World Bank's International Finance Corporation.
- Impact Investments: The firm is known for integrating ESG benchmarks and has been instrumental in promoting sustainable practices among its portfolio companies.
- Significant Portfolio Exits: AC Ventures has successfully nurtured companies like Xendit and Carsome, which have grown to unicorn status and enhanced the credibility of Southeast Asian markets.
Current Operations and Market Position
AC Ventures currently manages over US$500 million in assets and maintains a robust investment portfolio of over 145 companies in its focus markets, predominant among Indonesia and ASEAN. Its impact-driven investment philosophy targets startups that contribute to economic, social, and environmental sustainability. AC Ventures plays a pivotal role in developing the regional tech ecosystem by backing transformative companies across sectors like fintech, climate tech, digital marketing, and education technology. With a notable emphasis on promoting gender equality within its investment and operational decisions, AC Ventures has become a leader in merging profitability with positive social contributions.
Conclusion
AC Ventures remains a significant contributor to the development of Indonesia’s technological landscape by leveraging its strategic expertise, diverse investment portfolio, and significant capital deployment to empower tech startups in the region. With a continued emphasis on sustainable growth and profitability intertwined with positive societal impact, the firm is poised to progressively advance the Southeast Asian entrepreneurial ecosystem. Looking ahead, AC Ventures plans to harness its vast network and deep industry insights to continue supporting and scaling ambitious startups in tech-driven sectors.