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State-owned firms are reshaping Indonesia’s venture capital
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State-owned firms are reshaping Indonesia’s venture capital
Soon, the backbone of Indonesia’s startup ecosystem will not be only foreign private capital, but the centralised, collective power of the state-owned enterprises (SOEs). Over the past decade, Indonesia has quietly transformed its SOEs from the old-school infrastructure builders to the country’s toughest digital investors. This shift is not accidental. It is part of a calculated strategy to protect the economic value of Indonesia’s digital econo…
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