Striders Corporation (HQ: Tokyo, Japan, President: Ryotaro Hayakawa) which is highly bullish about the Post-COVID growth potential of the ASEAN region, made an investment into Indogen Capital's(HQ: Jakarta, Indonesia, Managing Partner: Chandra Firmanto) Fund II, through its subsidiary, Striders Global Investment Pte Ltd (HQ: Singapore, Director: Nelaka Haturusinha). Indogen Capital is an early stage fund that focus on investing in industry leaders across SEA region. With network reaching over 150 cities across Indonesia, Indogen capital is very well positioned to add strategic value that can help not only startups but also corporations to win Indonesia market.Along with the investment, Striders Global Investment Pte Ltd was also appointed as Indogen Capital's advisor for Japanese market.
Striders signed a partnership agreement with Indogen in July 2020, in order to explore the opportunities within the Southeast Asian startup eco-system. Since then Striders closed two investment deals into Attention Holdings (Esports) and Travelio (Prop-tech) with the support and guidance of Indogen. With the aim of further increasing the exposure to the Southeast Asian VC eco-system, Striders decided to invest into Indogen Capital's Fund II. Through this investment, Striders Corporation expects to contribute towards the Post-COVID growth in the region as well as to source companies for future direct investments.
Currently, not many Japanese companies are active within the ASEAN VC eco-system due to the lack of local understanding and cultural differences. But the ASEAN region could be the next growth driver for the Japanese companies. Therefore, Indogen Capital appointed Striders as their advisor to the Japanese market in order to leverage on the expertise and the network of Striders within both Japan and ASEAN region. As the advisor, Striders will be helping Indogen and its portfolio companies to get connected with the Japanese corporates for fundraising activities as well as for market expansions.
Commenting on the investment and the advisory partnership, Ryotaro Hayakawa, President and CEO of Striders Corporation said that Striders Corporation is highly optimistic about the partnership with Indogen and also believes that Japanese investors should not miss the opportunity to be a part of post-COVID growth of ASEAN region. He further said that Striders Corporation is glad to be working with a partner like Indogen Capital who goes the extra mile to support the investors and the startups by leveraging on their local and regional roots. According to Nelaka Haturusinha, Director of Striders Global Investment, the investment into Indogen Capital Fund II is a part of their long term investment strategy of connecting island nations (Japan, Singapore, Indonesia & Sri Lanka) via investments into upgrading the life-styles of people and making the countries more sustainable.
Chandra Firmanto, Managing Partner of Indogen Capital commented,“ I agree with Ryotaro that Japanese should not miss this opportunity. Covid 19 has accelerated digital adoption and expedited innovation in a faster pace than we had never seen before. This cemented our belief that future of Indonesia digital economy still huge particularly in outside metro areas. I personally believe that the timing could not be better. Kevin Chandra as VP of Indogen Capital also adds that we are very excited about what is coming with this partnership. Our DNA as a fund since day 1 is to help entrepreneurs win Indonesia market and Striders have always been advocating and supporting our thesis throughout years.
With the more strengthened partnership, both the companies expect to attract more Japanese investments into the Southeast Asian venture capital ecosystem. Furthermore, both the parties are actively working together to strengthen the deal pipeline for future co-investment deals.