AC Ventures

AC Ventures is a venture firm that specializes in investing in biotechnology companies. The firm is dedicated to supporting innovative startups within the biotechnology sector, providing them with the necessary resources and expertise to foster growth and development. With a focus on empowering exceptional founders, AC Ventures aims to build impactful businesses that can make significant contributions to the industry. The firm's team possesses extensive experience and a robust network, which they leverage to help their portfolio companies navigate challenges and achieve long-term success in the rapidly evolving biotechnology landscape.

Gary Khoeng

Principal

Past deals in Indonesia

Danacita

Series A in 2021
Danacita is an ErudiFi company that is on a mission to democratize access to higher education in Indonesia. It has funded students from over 100 tertiary institutes throughout the country and is registered with OJK as a P2P platform.

Kargo Technologies

Series A in 2020
Kargo Technologies is an online logistics platform based in Jakarta, Indonesia, that connects retail, e-commerce, and commercial sector shippers with truck fleets across the Indonesian archipelago. Founded in 2018, the company operates a freight logistics marketplace that enables shippers, transporters, and truckers to connect and conduct transactions efficiently. Through its website and mobile app, Kargo Technologies offers real-time shipment tracking and the ability to expand business networks, ultimately increasing revenue for its users. By digitizing freight matching and eliminating intermediaries, Kargo Technologies enhances the efficiency of supply chains in the region.

Stockbit

Series B in 2020
Stockbit is an investment community based in Indonesia that facilitates the sharing of stock-related ideas, news, and financial information in real-time. The platform allows users to create profiles, follow specific stocks, and engage with preferred investors to exchange valuable insights. By focusing on the Indonesian market, Stockbit offers tools for monitoring stock price trends and provides comprehensive financial data, enabling individuals and investors to discuss, analyze, and make informed investment decisions. This community-driven approach fosters collaboration among users, enhancing their investment strategies and knowledge.

Hacktiv8

Seed Round in 2020
Hacktiv8 is the leading coding bootcamp in Indonesia that turns absolute beginners into job ready developers. Hacktiv8 is also the first institution in Indonesia to offer Income Share Agreements (ISA) Education financing to allow students to learn for free in exchange for a share of future income.

Carsome

Series C in 2019
Carsome is an online platform that simplifies the process of selling used cars for individuals and businesses. Founded in 2015 and headquartered in Malaysia, the company has expanded its operations to Indonesia, Thailand, and Singapore. Carsome's services include vehicle inspection, valuation, and a bidding system that connects sellers directly with dealers, allowing for a quick and efficient sale, often within a day. The platform also manages logistics and ownership transfers, ensuring a seamless experience for customers. In addition to selling cars, Carsome offers a curated selection of pre-owned vehicles for buyers. Overall, Carsome aims to provide a hassle-free and transparent car selling and buying experience.

KoinWorks

Series B in 2019
KoinWorks is a prominent financial technology company in Indonesia, recognized for its innovative approach in the financial sector, having won the Asian Banker Financial Innovation Award in 2019 for the Lending Category. The company operates a peer-to-peer lending platform that facilitates connections between investors and borrowers, offering a range of financial products that include loans for business, health, and education at competitive interest rates. This platform allows users to manage both their assets and liabilities in a single, accessible environment, making financial solutions more affordable and available to a wider audience. KoinWorks represents a significant evolution in financial services, striving to enhance financial inclusion across Indonesia.

Stockbit

Series A in 2019
Stockbit is an investment community based in Indonesia that facilitates the sharing of stock-related ideas, news, and financial information in real-time. The platform allows users to create profiles, follow specific stocks, and engage with preferred investors to exchange valuable insights. By focusing on the Indonesian market, Stockbit offers tools for monitoring stock price trends and provides comprehensive financial data, enabling individuals and investors to discuss, analyze, and make informed investment decisions. This community-driven approach fosters collaboration among users, enhancing their investment strategies and knowledge.

PAYFAZZ

Venture Round in 2018
PT Payfazz Teknologi Nusantara is a financial technology company focused on creating an agency-based financial platform that serves as a payment solution for Indonesians, particularly those who are unbanked. The platform enhances financial accessibility by facilitating bill payments, loans, money transfers, savings accounts, and investment services through smartphones. PAYFAZZ partners with various leading Indonesian banks, financial institutions, and service providers to build a secure, distributed network of bank agents, ensuring that transactions are safe and efficient. With robust security measures in place, including GeoTrust SSL and user authentication protocols, PAYFAZZ aims to improve the financial landscape in Indonesia and contribute to the country's digital transformation within Southeast Asia.

KoinWorks

Series A in 2018
KoinWorks is a prominent financial technology company in Indonesia, recognized for its innovative approach in the financial sector, having won the Asian Banker Financial Innovation Award in 2019 for the Lending Category. The company operates a peer-to-peer lending platform that facilitates connections between investors and borrowers, offering a range of financial products that include loans for business, health, and education at competitive interest rates. This platform allows users to manage both their assets and liabilities in a single, accessible environment, making financial solutions more affordable and available to a wider audience. KoinWorks represents a significant evolution in financial services, striving to enhance financial inclusion across Indonesia.

ErudiFi

Seed Round in 2018
ErudiFi is a technology company focused on making education more affordable in Southeast Asia, operating under the names Danacita in Indonesia and Bukas in the Philippines. The company has developed an education financing platform that assists students in securing low-interest educational loans. By leveraging tech-enabled partnerships with leading universities and vocational schools, ErudiFi simplifies the loan application process, allowing students to apply online and receive approval based on factors such as family income, area of study, and academic merit. This approach not only alleviates the burden of lengthy documentation but also enhances access to education, thereby contributing to generational transformation and a brighter future for students in the region.

Carsome

Series B in 2018
Carsome is an online platform that simplifies the process of selling used cars for individuals and businesses. Founded in 2015 and headquartered in Malaysia, the company has expanded its operations to Indonesia, Thailand, and Singapore. Carsome's services include vehicle inspection, valuation, and a bidding system that connects sellers directly with dealers, allowing for a quick and efficient sale, often within a day. The platform also manages logistics and ownership transfers, ensuring a seamless experience for customers. In addition to selling cars, Carsome offers a curated selection of pre-owned vehicles for buyers. Overall, Carsome aims to provide a hassle-free and transparent car selling and buying experience.

GoWork

Seed Round in 2017
GoWork is Indonesia’s premium coworking space with a mission to help people be their best. GoWork provide world-class workspaces that are inspiring and fully equipped with amenities and tools to help companies thrive. GoWork pursues its mission by creating business community platforms for its members through researched spatial design, integrated technology and empowering content and services. The venture is backed by several well-known venture capitalists and partnered with leading brands in coworking, lifestyle and real estate.

PAYFAZZ

Convertible Note in 2017
PT Payfazz Teknologi Nusantara is a financial technology company focused on creating an agency-based financial platform that serves as a payment solution for Indonesians, particularly those who are unbanked. The platform enhances financial accessibility by facilitating bill payments, loans, money transfers, savings accounts, and investment services through smartphones. PAYFAZZ partners with various leading Indonesian banks, financial institutions, and service providers to build a secure, distributed network of bank agents, ensuring that transactions are safe and efficient. With robust security measures in place, including GeoTrust SSL and user authentication protocols, PAYFAZZ aims to improve the financial landscape in Indonesia and contribute to the country's digital transformation within Southeast Asia.

Kata.ai

Series A in 2017
Kata.ai is an Indonesian Conversational Artificial Intelligence company with a focus on enhancing the understanding of human conversations, improving the way humans collaborate with machines. Kata.ai’s Natural Language Processing (NLP) technology powers intelligent chatbots (virtual customer service / virtual friend) for major corporations in Indonesia across a different kind of industries such as Unilever (FMCG) and Telkomsel (Telco). The company’s proprietary Kata Bot Platform can be leveraged to create engaging chatbots on top of Kata.ai’s robust and scalable AI technology platform, ensuring company of any size can easily build their own chatbot on any messaging platform. Established in 2015, the company has become a trusted partner for major corporations such as Microsoft, Accenture, and Line. In 2017, the company also received Series-A funding led by Trans-Pacific Technology Fund.

Sorabel

Series B in 2017
Sorabel is a rapidly growing startup focused on providing affordable, high-quality clothing through an online platform. It aims to challenge the traditional fashion industry, which often charges excessively high prices and caters primarily to the privileged. By minimizing overhead costs and reducing intermediary expenses, Sorabel offers a wide range of women's apparel and accessories at discounted prices, making fashion accessible to a broader audience, including the working class and underprivileged. The company's team comprises graduates from prestigious institutions and professionals with experience in top tech companies. Sorabel operates in multiple cities, including Jakarta, Tangerang, Yogyakarta, Bandung, Bali, and Singapore, emphasizing its commitment to leveraging data and technology in its business model.

Urbanhire

Seed Round in 2017
They founded Urbanhire because they believe hiring can be more efficient and they want to help companies get the talents they will love. Recruitment is a strategic issue and when done right it can be a significant competitive advantage. They inject the values they uphold most like technological excellence, collaboration and people empowerment to design a recruiting software that just works in the new economy. They’re excited to support the amazing teams at growing companies especially in our home markets of Indonesia and Asia.

Dekoruma

Series A in 2016
PT Dekoruma Inovasi Lestari operates an online platform that specializes in selling home furnishings and furniture in Jakarta, Indonesia. Founded in 2015, the company offers a diverse range of products, including kitchen and dining room items, decor, mattresses, and household appliances. In addition to retail, Dekoruma connects customers with interior designers, suppliers, and vendors, aiming to enhance the efficiency of the home and living industry. The platform is designed to meet the home decor needs of customers at affordable prices, making it a comprehensive solution for interior design and furnishing.

Laku6

Convertible Note in 2016
Laku6 is an e-commerce platform based in Indonesia that facilitates the buying and selling of second-hand smartphones. It aims to support the emerging middle class by providing affordable options for acquiring and upgrading mobile devices through recommerce and financing solutions. The platform offers accurate and up-to-date information regarding pricing and device specifications, ensuring customers can access quality smartphones at competitive rates.

Black Garlic

Seed Round in 2016
Black Garlic is an Indonesian company that specializes in online meal kit delivery services, founded in 2015 and based in Jakarta. It offers a selection of fresh ingredients, including meat, vegetables, and seasonings, along with easy-to-follow cooking recipe cards featuring step-by-step photos. The company aims to simplify the cooking process for individuals, even those with limited culinary skills, by providing three expertly designed recipes each week, crafted by culinary expert William Wongso. Through its services, Black Garlic enables customers to prepare special meals at home quickly and conveniently.

Qraved

Series B in 2015
Qraved, the No. 1 food discovery platform in Indonesia is solving the US$BN problem of “Where and What to eat.” To do this, Qraved provides a full stack solution bringing content, community and commerce together (Buzzfeed food/Eater+Yelp+Opentable) through web and mobile apps. With personalized delivery of aggregated and curated photo and video content from Instagram, blogs and other other media sources, Qraved is connecting more than millions of monthly users to more than 30,000 merchants.

MoneySmart Singapore

Series A in 2015
MoneySmart is a prominent personal finance portal in Southeast Asia that assists consumers in comparing a wide range of financial products, including personal loans, credit cards, travel insurance, and mortgages. With platforms like MoneySmart.sg in Singapore and DuitPintar.com in Indonesia, the firm aims to simplify personal finance decisions for everyday consumers. By providing users with the ability to compare various financial offerings, MoneySmart helps individuals make informed choices related to budgeting, saving for significant life events, and planning for the future. The platform serves as a comprehensive resource, enabling users to find and apply for the best financial products tailored to their needs, all at no cost. Through its user-friendly tools and advice, MoneySmart empowers consumers to effectively manage their finances and achieve their life goals.

Kata.ai

Seed Round in 2015
Kata.ai is an Indonesian Conversational Artificial Intelligence company with a focus on enhancing the understanding of human conversations, improving the way humans collaborate with machines. Kata.ai’s Natural Language Processing (NLP) technology powers intelligent chatbots (virtual customer service / virtual friend) for major corporations in Indonesia across a different kind of industries such as Unilever (FMCG) and Telkomsel (Telco). The company’s proprietary Kata Bot Platform can be leveraged to create engaging chatbots on top of Kata.ai’s robust and scalable AI technology platform, ensuring company of any size can easily build their own chatbot on any messaging platform. Established in 2015, the company has become a trusted partner for major corporations such as Microsoft, Accenture, and Line. In 2017, the company also received Series-A funding led by Trans-Pacific Technology Fund.

Xendit

Seed Round in 2015
Xendit is a Southeast Asian fintech company founded in 2014, specializing in payment infrastructure across Indonesia and the Philippines. The company provides a user-friendly payment gateway platform that simplifies the process of sending and receiving money for both individuals and businesses. Xendit enables companies to accept payments through various methods, including bank transfers, virtual accounts, and credit cards. Additionally, the company offers services such as marketplace operations, payroll disbursement, loan management, and fraud detection, all facilitated through a suite of APIs and a user-friendly dashboard. Xendit's mission is to support businesses in growing efficiently by streamlining payment processes and enhancing financial transactions.

Adskom

Series A in 2015
ADSKOM is an Advertising Technology company with dedicated mission to empower digital advertising industry with programmatic advertising platforms and insightful business services. With technology & business team in Indonesia, Singapore & USA we strive to deliver effective digital advertising solution for you

Qraved

Series A in 2014
Qraved, the No. 1 food discovery platform in Indonesia is solving the US$BN problem of “Where and What to eat.” To do this, Qraved provides a full stack solution bringing content, community and commerce together (Buzzfeed food/Eater+Yelp+Opentable) through web and mobile apps. With personalized delivery of aggregated and curated photo and video content from Instagram, blogs and other other media sources, Qraved is connecting more than millions of monthly users to more than 30,000 merchants.

MBDC Media

Seed Round in 2014
MBDC Media is a Jakarta-based digital brand and content producer that specializes in online media services. Established in 2011, the company operates a network of online platforms, with Malesbanget.com being one of its most recognized products, serving as Indonesia's largest humor and entertainment viral media and video channel. As a YouTube Certified Company, MBDC Media also manages a multi-channel network known as the RED Network, which includes various prominent YouTube creators and video channels. The company focuses on producing high-quality video content and premium web series tailored for its audience and advertisers, while also providing trending news and information that resonates with the Indonesian youth demographic.
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