Indonesian fund and Granite Asia commit $1.2 billion to technology investments
INA and Granite Asia join forces for substantial investments in Indonesia’s technology landscape.
The Indonesia Investment Authority (INA) and Singapore-based Granite Asia announced a joint plan to invest up to $1.2 billion in Indonesia’s technology sector and related businesses. According to a joint statement, the initiative will involve both equity and hybrid capital, though specific financial contributions from each firm and the timeline for investments remain undisclosed. Targeted companies were also not named.
INA, Indonesia‘s sovereign wealth fund, was established in 2020 to attract both domestic and international investors to the country. Last week, the fund announced that its toll road platform, with backing from Dutch pension fund APG and the Abu Dhabi Investment Authority, is funding parts of Indonesia’s Trans Sumatra Toll Road.
Granite Asia, formerly part of GGV Capital, currently manages assets totalling $5 billion. The collaboration is expected to support the growth of Indonesia’s tech landscape and strengthen economic ties within Southeast Asia.
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